The rate at which a consumer must give up y to get one more x is equal to

A) -Px/Py.
B) -Py/Px.
C) -MUx/MUy.
D) MUy/MUx.

A

Economics

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An example of a capital resource is: a. stock in a computer software company

b. a bond issued by a company selling electric generators. c. a dump truck. d. an employee of a moving company.

Economics

Which of the following statements is most consistent with the rule of rational choice?

a. "The Environmental Protection Agency should strive to eliminate virtually all air and water pollution." b. "When evaluating new prescription drugs, the Food and Drug Administration should weigh each drug's potential health benefits against the potential health risks posed by known side effects." c. "Police forces should be enlarged until virtually all crime is eliminated." d. "Manufacturers of automobiles should seek to make cars safer, no matter the costs involved."

Economics