Suppose the Marginal Rate of Substitution of X for Y

question 19

Multiple Choice

Suppose the marginal rate of substitution of x for y is constant for all levels of x and y . Goods x and y are

• A) perfect substitutes.
• B) perfect complements.
• C) normal goods.
• D) inferior goods.

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Definitions:

Shorter

Having lesser length, height, or duration than something else or than is typical.

Amplitude

In physics, it refers to the maximum extent of a vibration or oscillation, measured from the position of equilibrium.

Brightness

The perception of light intensity, often described in terms of the amount of light emitted or reflected by an object.

Colour

The characteristic of visual perception described through categories with names such as red, blue, yellow, etc., primarily caused by the spectrum of light interacting with the photoreceptor cells of the eye.