The Marginal Rate of Substitution Is

question 21

Multiple Choice

The marginal rate of substitution is

• A)the slope of the indifference curve.
• B)the slope of the utility possibilities curve.
• C)the slope of the contract curve.
• D)none of these answers is correct.

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Definitions:

Behavioral Economics

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The quality of treating people equally or in a way that is right and reasonable, without favoritism or bias.

Field Evidence

Data or information collected directly from real-world settings or environments, often used to support or refute hypotheses in research.