According to the Relative Price Rule, the Optimal Consumption Bundle

question 40

Multiple Choice

According to the relative price rule, the optimal consumption bundle between hot dogs and beer takes place when the _____ rate of substitution is _____ their relative price.

• A) total; equal to
• B) marginal; equal to
• C) marginal; higher than
• D) total; lower than

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Definitions:

High-powered Objective

An objective lens used in microscopy with high magnification capabilities, allowing for the detailed observation of minute specimens.

Micrometers

Units of length in the metric system equal to one millionth of a meter, commonly used in science and engineering for precise measurements.

μm

Micrometer, a unit of length in the metric system equal to one millionth of a meter, used to measure small distances, such as those in biological cells and structures.

Total Magnification

The combined magnifying power of an optical system, calculated by multiplying the objective lens magnification by the ocular lens magnification.