The slope of an indifference curve
A) measures total utility.
B) is calculated by dividing the quantity of the good on the vertical axis by the quantity of the good on the horizontal axis.
C) measures the marginal rate of substitution between the two goods in question.
D) is calculated by dividing the price of good on the vertical axis by price of the good on the horizontal axis.
C
Economics
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If total explicit costs are equal to total implicit costs, then economic profit is zero
Indicate whether the statement is true or false
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The demand curve faced by a monopolistically competitive firms is
A) horizontal. B) vertical. C) downward sloping. D) unitary elastic.
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