Larry consumes at a point on his budget line where his marginal rate of substitution is less than the magnitude of the slope of his budget line. As Larry moves toward his consumer equilibrium point, he will move to a
A) lower budget line.
B) higher budget line.
C) lower indifference curve.
D) higher indifference curve.
D
Economics
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Which of the following best illustrates the human capital of a survivor stranded on an island?
a. the fishing poles she has produced b. the invention of a better fishing lure c. the fresh fruit and fish on and around the island d. her previous training in a survival course
Economics
Based on the following graph, if the price of X is $7.50 per unit, how many units of X will a utility-maximizing consumer choose?
The consumer's income is $600.
A. 30 B. 50 C. 35 D. 25 E. none of the above
Economics