The magnitude of the slope of the budget line is the ratio of
A) a price to its quantity.
B) a quantity to its price.
C) two prices.
D) two marginal rates of substitution.
C
Economics
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Which of the following statements is equivalent to an appreciation of the dollar relative to the euro?
a. The dollar buys fewer euros now. b. The euro buys fewer dollars now. c. The dollar costs less. d. The euro buys more dollars now
Economics
If the social marginal cost of a good is very high relative to the private marginal cost, then a monopoly will most likely
A) produce more than the social optimum. B) produce less than the social optimum. C) produce the social optimum. D) produce zero pollution.
Economics