The slope of an indifference curve is equal to the ratio of the ____ of the good on the horizontal axis to the ____ of the good on the vertical axis
a. marginal utility (MU); marginal utility (MU)
b. total utility (TU); total utility (TU)
c. marginal product (MP); marginal product (MP)
d. price (P); total utility (TU)
a
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Which of the following statements about perfect price discrimination is false?
A) For the price-discriminating firm, its marginal revenue curve coincides with its demand curve. B) There is no consumer surplus if a firm engages in perfect price discrimination. C) A condition for perfect price discrimination is that it must be costlier to service some customers than others. D) Perfect price discrimination occurs when the seller charges the highest price each consumer would be willing to pay for the product.
Perfectly inelastic demand curves are vertical
a. True b. False Indicate whether the statement is true or false