Refer to the following figure. The price of capital is $50 per unit:What is the marginal rate of technical substitution at each cost minimizing equilibrium point?

Water quality in the United States has ____ in the past 25 years

a. improved b. worsened c. remained unchanged d. improved slightly before a recent deterioration

Which of the following descriptions best depicts the substitution effect?

a. the change in consumption resulting from a change in the consumer's income, holding the prices of the goods constant b. the change in consumption resulting from a change in the consumer's income, holding the consumer's level of satisfaction constant c. the change in consumption resulting from a change in the price of one good, holding the consumer's level of satisfaction constant d. the change in consumption resulting from a change in the price of one good, allowing the consumer's level of satisfaction to change