When Two Goods Are Perfect Substitutes, the

question 57

Multiple Choice

When two goods are perfect substitutes, the

• A)indifference curve is a downward-sloping straight line.
• B)marginal rate of substitution is constant.
• C)indifference curve is a vertical straight line.
• D)Both a and b are correct.

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Definitions:

American Politics

The political activities, policies, and structure within the United States, including government operation and election processes.

Impact

The strong effect or influence that one thing has on another, often used in contexts ranging from social and environmental to economic.

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Employment within industrial settings where goods are manufactured in large quantities, often characterized by specialized tasks, assembly lines, and the use of machinery.

Scientific Management

An early 20th-century theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity.