Suppose a Consumer with an Income of $100 Is Faced

question 18

Multiple Choice

Suppose a consumer with an income of $100 is faced with P_x = 1 and P_y = 1/2.What is the market rate of substitution between good X (horizontal axis) and good Y (vertical axis) ?

• A) 0.50
• B) -1.0
• C) -2.0
• D) -4.0

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