Excluding Corner Solutions, in Consumer Equilibrium, Which of the Following

question 43

Multiple Choice

Excluding corner solutions, in consumer equilibrium, which of the following is true?

• A)The marginal rate of substitution equals the slope of the budget constraint.
• B)The indifference curve is steeper than the budget constraint.
• C)The consumer is minimizing utility given the constraints.
• D)The consumer can improve his/her situation by consuming more of both goods.

Grasp the historical progression of democracy through its three waves and the essential factors for sustaining democratic institutions.

Compare and differentiate between types of authority and their stability in modern societies.

Identify and explain the determinants of a nation's risk for war.

Understand the significance of class and regional divisions in Canadian politics.

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Definitions:

Retail Inventory Method

An accounting technique used to estimate inventory value by comparing the cost of goods sold to the total sales.