Prices for fresh fruit, vegetables and other food products are examples of
A) custom prices. B) sticky prices. C) temporary prices. D) auction prices.
D
Economics
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If the utility function (U) between food (F) and clothing (C) can be represented as U = , the marginal rate of substitution of clothing for food equals
A) -C/F. B) -F/C. C) - . D) - .
Economics
In a short run competitive equilibrium
A) the market demand curve is horizontal. B) the market demand curve is downward sloping. C) the market demand curve is perfectly inelastic. D) All of the above are possible.
Economics