The Rate at Which Consumers Are Willing to Exchange One

question 43

Multiple Choice

The rate at which consumers are willing to exchange one good for another while maintaining the same total utility is known as:

• A) a budget constraint line.
• B) the marginal rate of substitution.
• C) a demand curve.
• D) equilibrium.

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Definitions:

Fire

A rapid oxidation process, which is a chemical reaction resulting in the release of heat and light.

Hominins

Refers to the group that includes modern humans, extinct human species, and all our immediate ancestors.

Browsers

Herbivorous animals that feed on leaves, soft shoots, or fruits of high-growing, woody plants rather than grasses.

Grazers

Herbivorous animals that feed primarily on grass and other low-lying vegetation.