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:

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for behaviors observed in others while underestimating the influence of situational factors.

Individualism

A cultural or philosophical outlook that emphasizes the moral worth of the individual and the importance of independence and self-reliance.

Collectivism

A cultural value that emphasizes the importance of groups and collective action over individual achievement or identity.

Actor-Observer Effect

A social psychology phenomenon where people tend to attribute their own actions to situational factors, but others' actions to their personality or character.