The marginal rate of substitution is
A) the slope of the indifference curve.
B) the slope of the utility possibilities curve.
C) the slope of the contract curve.
D) none of these answers is correct.
Correct Answer:
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Q9: The utility possibilities curve is derived from
Q10: A social welfare function
A)can never be derived
Q11: A public good is
A)always provided by the
Q12: Movement from an inefficient allocation to an
Q13: An example of an activity that generates
Q15: The absolute value of the slope of
Q16: Market failure can occur when
A)individuals can influence
Q17: Welfare economics
A)only looks at the poorest parts
Q18: The government must intervene in markets in
Q19: According to the Second Fundamental Theorem of
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