A binding price floor that could be set in the market in the graph shown would be:

The marginal rate of substitution is

A) equal to unit changes in the quantities of both goods so that utility rises. B) the slope of the budget line at all points. C) the change in the quantity of one good that just offsets a unit change in another good, keeping utility constant. D) found by adding additional units.

Refer to the given information. In Singsong the domestic real cost of each chicken:

Answer the question on the basis of the following information about the cost ratios for two products—fish (F) and chicken (C)—in countries Singsong and Harmony. Assume that production occurs under conditions of constant costs and these are the only two nations in the world. Singsong: 1F = 2C Harmony: 1F = 4C A. is ½ fish. B. is 2 fish. C. increases with the level of fish caught. D. decreases with the level of fish caught.