Only at the point of consumer equilibrium does the marginal rate of substitution (MRS) equal the:
A) slope of the budget line.
B) slope of the indifference curve.
C) price ratio.
D) all of these.
Correct Answer:
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Q87: Consumer equilibrium occurs where the budget line
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Q99: At the unique point of consumer equilibrium,
Q228: Exhibit 6A-2 Consumer Equilibrium Q230: A line that represents combinations of two Q235: The budget line is a(n): Q236: Given the prices of two goods, all Q237: Exhibit 6A-2 Consumer Equilibrium
A) convex curve.
B)
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