Curve tracing the utility maximizing combinations of two goods as the price of one good changes.

Answer: Price consumption curve

Economics

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To achieve faster growth, economies can increase income tax rates in order to increase saving rates

Indicate whether the statement is true or false

Economics

In the above figure, what is the magnitude of the marginal rate of substitution (MRS) at point a?

A) 1/2 B) the rate at which the consumer will give up magazines to purchase more CDs while preferring the new combination to the old C) 2 D) The question cannot be answered without more information.

Economics