At the Point of Consumer Equilibrium the Slope of the Budget

question 75

Multiple Choice

At the point of consumer equilibrium the slope of the budget line is equal to the:

• A)market rate of substitution.
• B)indifference curve.
• C)marginal rate of substitution.
• D)consumer preference.

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Definitions:

Sugar Act

A British law enacted in 1764 aiming to raise revenue from the American colonies by imposing a tax on sugar and other imports, contributing to colonial dissatisfaction and the American Revolution.

Legislation

Laws or legal enactments made or enacted by a governing body or legislature.

1764

A year marked by significant events including the British Parliament's passage of the Sugar Act, which was a revenue-raising effort that contributed to the American Revolutionary War.