_____ is the rate at which a person is willing to trade one good for another so that his total utility remains the same
a. Marginal propensity to consume
b. Marginal propensity to save
c. Marginal rate of substitution
d. Marginal rate of return
c
Economics
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The price elasticity of demand for new stereos is –2 . Suppose a stereo store wishes to increase its sales by 15 percent. What should the firm do?
What will be an ideal response?
Economics
Suppose that Year 1 is the base year. What is the growth rate of GDP?
A) 35% B) 55% C) 70% D) 110%
Economics