Two Goods Are Perfect Substitutes

question 57

Multiple Choice

Two goods are perfect substitutes. The marginal rate of substitution for these two goods is:

• A)parabolic.
• B)exponential.
• C)a constant.
• D)shows diminishing marginal utility.

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Definitions:

Functional Areas

Specific departments or divisions within a business that focuses on particular activities or operations, such as marketing, finance, or human resources.

Foundation

An organization established to provide support for charitable, educational, religious, or other activities serving the public good, often through funding or programming.

Governmental Law

Refers to the body of law that pertains to the rights, obligations, and functions of government and its departments.

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent when such acts occur within the scope of employment or agency.