Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max is currently at point d,
A) his MRS is larger than the trade-off offered by the market.
B) he is willing to give up more chicken than he has to, given market prices.
C) he is not maximizing his utility.
D) All of the above.
D
Economics
You might also like to view...
In a randomized controlled experiment
A) there is a control group and a treatment group. B) you control for the effect that random numbers are not truly randomly generated C) you control for random answers D) the control group receives treatment on even days only.
Economics
Supply-side economics calls for:
a. lower taxes on businesses and individuals. b. regulatory reforms to increase productivity. c. government subsidies to promote technological advance. d. All of these.
Economics