By selecting a bundle where MRS = MRT, the consumer is saying
A) "I value my last unit of each good equally."
B) "I am willing to trade one good for the other at the same rate that I am required to do so."
C) "I will equate the amounts spent on all goods consumed."
D) All of the above.
B
Economics
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
Economics
Which of the following is TRUE?
A. MPC * MPS = 1 B. MPC = 1+ MPS C. MPC = 1 - MPS D. MPC / MPS = 1
Economics