The absolute value of the slope of an indifference curve equals the ratio of the marginal utilities of the two goods involved
Indicate whether the statement is true or false
True . The MRS can be represented as the ratio of both those quantities.
Economics
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In graphical form,the effect of imposing a tax on a good is shown as
A) a leftward shift of the market supply curve. B) a rightward shift of the market supply curve. C) a downward movement along the market supply curve. D) no change to the market supply curve.
Economics
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then the firm's Lerner Index equals
A) 58/16. B) 16/42. C) 58/42. D) 42/58.
Economics