The absolute value of the slope of an indifference curve equals the ratio of the marginal utilities of the two goods involved
What will be an ideal response?
True. The MRS can be represented as the ratio of both those quantities.
Economics
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Regressional analysis that analyzes the relationship between one dependent variable and one independent variable is called:
A) simple regression analysis. B) correlation analysis C) multiple regression analysis. D) cluster analysis.
Economics
In Figure 4.2, at quantities at Q1:
A. price and total revenue are unrelated. B. total revenue is maximized. C. price elasticity equals 1. D. All of these
Economics