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12 Dec 2019

Perfect substitutes produce an indifference curve with a(n) ________ marginal rate of substitution.

increasing

inverse

constant

right-angle

decreasing

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Related questions

The absolute value of the slope of the indifference curve equals the marginal rate of substitution. If two goods were perfect substitutes, what would the indifference curves look like? Explain.

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3) A constant marginal rate of substitution between two goods implies A) the goods are imperfect substitutes. B) the goods are both inferior. C) one good is normal and one good is inferior. D) the goods are perfect substitutes. E) the goods are perfect complements.

3) A constant marginal rate of substitution between two goods implies A) the goods are imperfect substitutes. B) the goods are both inferior. one good is normal and one good is inferior. D) the goods are perfect substitutes. E) the goods are perfect complements.

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Perfect substitutes produce an indifference curve with a(n) ________ marginal rate of substitution.

increasing

inverse

constant

right-angle

decreasing

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Principles of Economics

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Perfect substitutes produce an indifference curve with a(n) ________ marginal rate of substitution. increasing inverse constant right-angle decreasing

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

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Perfect substitutes produce an indifference curve with a(n) ________ marginal rate of substitution.

increasing

inverse

constant

right-angle

decreasing