Refer to the graph shown. The marginal rate of substitution at point B is:
A. the same as the marginal rate of substitution at point C.
B. the same as the marginal rate of substitution at point A.
C. the same as the marginal rate of substitution at point D.
D. impossible to determine with the information given.
Answer: A
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Explain the effect of trade deficits on economic growth
What will be an ideal response?
If demand increases and supply decreases, what is the effect on equilibrium price and equilibrium quantity?
A) The price falls and the quantity might increase, decrease, or remain the same. B) The price rises and the quantity might increase, decrease or remain the same. C) The quantity decreases and the price might rise, fall, or remain the same. D) The quantity increases and the price might rise, fall, or remain the same.