If the Quantity of Good a Is on the Vertical

question 19

Multiple Choice

If the quantity of good A is on the vertical axis and the quantity of good B is on the horizontal axis, the marginal rate of technical substitution of the corresponding isoquant line is:

• A) the marginal product of good B divided by the marginal product of good A.
• B) the negative of the marginal product of good B divided by the marginal product of good A.
• C) the marginal product of good A divided by the marginal product of good B.
• D) the negative of the marginal product of good A divided by the marginal product of good B.

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Definitions:

Ordinance

A piece of legislation enacted by a municipal authority covering matters not already covered by federal or state law.

Cost Benefit Analysis

An evaluation process that compares the costs and benefits of a project or decision to determine its viability or worth.

Environmentalist

An individual or organization that advocates for the protection of the environment against pollution and degradation.

Legal Realism

A theory in law that emphasizes the real-world outcomes of cases and the roles of judges and societal influences, rather than purely relying on abstract legal rules or doctrines.