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Economics
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13 Dec 2019

Question 5

When two goods are perfect substitutes, the

marginal rate of substitution is constant.

indifference curve is a downward-sloping straight line.

indifference curve is a vertical straight line.

Both a and b are correct.

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17 Dec 2019
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Related questions

14) At the best affordable point, which statement is true? A) The marginal rate of substitution between two goods equals their absolute price. B) Other points on the same indifference curve are affordable but not preferred. C) The slope of the indifference curve equals the slope of the budget line. D) The highest affordable indifference curve has the same intercept as the budget line. E) Some income is not spent.

25) At the best affordable point, which statement is true? A) The slope of the indifference curve equals the slope of the budget line. B) The marginal rate of substitution between two goods equals their absolute price. C) The highest affordable indifference curve has the same intercept as the budget line. D) Other points on the same indifference curve are affordable but not preferred. E) Some income is not spent.

10) At the best affordable point, which statement is true? A) The marginal rate of substitution between two goods equals their absolute price B) Other points on the same indifference curve are affordable but not preferred C) The slope of the indifference curve equals the slope of the budget line. D) The highest affordable indifference curve has the same intercept as the budget line. E) Some income is not spent

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