At the best affordable point, consumers equate their marginal rates of substitution to
A) their money income.
B) their real income.
C) relative prices.
D) relative quantities.
C
Economics
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During the 20th century, U.S. death rates
(a) exhibited the same cyclical waves as birth rates. (b) fell with advancements in healthcare and medicine. (c) exhibited an upward trend. (d) generally stayed flat.
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It is inefficient to charge a positive price for a collective consumption good
a. True b. False
Economics