The Marginal Rate of Substitution Between Two Goods Always Equals

question 147

Multiple Choice

The marginal rate of substitution between two goods always equals the

• A)marginal utility of one divided by the marginal utility of the other.
• B)marginal utility of one times the marginal utility of the other.
• C)price of one good divided by the price of the other.
• D)Both a and c are correct.

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Definitions:

Collectivist Culture

A social organization model where individuals prioritize the goals and needs of the group over personal desires or ambitions.

Moral Foundation

The basic principles or values that guide judgments about what is right and wrong or good and bad.

Fragile Self-Esteem

A state where an individual's self-worth is easily shaken or threatened by external factors.

Symbolic Immortality

The belief that one can achieve a sense of immortality through lasting contributions to society, living on through others, or through spiritual beliefs.