Which of the following statement(s) is (are) false?
A) The slope of any indifference curve is the MRS.
B) The slope of any budget line is negative and related to the ratio of the prices of the goods.
C) The slope of any linear demand curve is the own-price elasticity.
D) None of the above (that is, all statements are true).
Answer: C
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The value of the marginal product of capital can be calculated as the market price of the good multiplied by the marginal product of capital
a. True b. False Indicate whether the statement is true or false
Part of the reason why barely used cars sell for much less than new cars is that
A. buyers and sellers have symmetric information about cars and both have less information about used cars than about new cars. B. buyers and sellers have symmetric information about cars and both have more information about used cars than about new cars. C. buyers have more information about used cars than sellers do. D. sellers have more information about used cars than buyers do.