The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle
Indicate whether the statement is true or false
False. This describes the slope of the indifference curve. The slope of the budget line represents the rate at which the consumer must trade one good for another at any given bundle.
Economics
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Refer to the figure above. What is the optimal number of machines rented if the market rental price is $5 per month?
A) 20 machines B) 40 machines C) 80 machines D) 100 machines
Economics
When both the demand for a good increases and the supply of the good increases, the equilibrium quantity definitely increases
Indicate whether the statement is true or false
Economics