In the above figure, at the best affordable point, the marginal rate of substitution is
A) 0.5 of a hamburger per magazine.
B) 1 hamburger per magazine.
C) 1.33 hamburgers per magazine.
D) 8 hamburgers per magazine.
C
Economics
You might also like to view...
The debt-ratio is the ratio of the debt to
A) government spending. B) saving. C) taxes. D) personal disposable income. E) GDP.
Economics
In general, non-equilibrium prices occur because:
a. information is imperfect and adjustment is costly. b. supply curves shift along stationary demand curves. c. demand curves shift along stationary supply curves. d. monopolists charge prices above marginal cost.
Economics