The slope of the budget constraint is all of the following except
a. the relative price of two goods.
b. the rate at which a consumer can afford to trade one good for another.
c. the marginal rate of substitution.
d. constant.
c
Economics
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Given the budget line in the above figure, if income is $60, then the price of a pizza is ________ and the price of a CD is ________
A) $5; $20 B) $6; $4 C) $15; 15 D) $10; $15
Economics
Refer to Figure 4-3. What area represents the deadweight loss at the equilibrium price of P1?
A) C + E B) C + E + H C) G + H D) There is no deadweight loss at the price of P1.
Economics