Marginal rate of substitution between X and Y is
a. total utility of X divided by total utility of Y.
b. marginal utility of X divided by marginal utility of Y.
c. total utility of X divided by marginal utility of Y.
d. none of the above.
b. marginal utility of X divided by marginal utility of Y.
Economics
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List three different types of financial markets and discuss the type of financial instruments traded in the markets
What will be an ideal response?
Economics
Suppose the conditions of the first welfare theorem hold. If the government redistributes income prior to production and trade occurring, the market outcome (resulting from production and trade) will be efficient so long as no deadweight loss is produced in the levying of redistributive taxation.
Answer the following statement true (T) or false (F)
Economics