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3 Mar 2018
24) Which one of the following is true at the best affordable choice of a consumer? A) Marginal rate of substitution exceeds the slope of the budget line. B) Marginal rate of substitution is less than the relative price of the good measured on the X-axis. C) All income is spent. D) The consumption choice is outside the budget line. E) Other consumption points along the consumer's budget line lie on higher indifference curves.
24) Which one of the following is true at the best affordable choice of a consumer? A) Marginal rate of substitution exceeds the slope of the budget line. B) Marginal rate of substitution is less than the relative price of the good measured on the X-axis. C) All income is spent. D) The consumption choice is outside the budget line. E) Other consumption points along the consumer's budget line lie on higher indifference curves.
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3 Mar 2018
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