The slope of a budget constraint is equal to the relative prices of the two goods.
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Q4: Bundles of goods on a consumer's indifference
Q5: Indifference curves are downward-sloping and linear.
Q6: When the price of a good rises,
Q7: A consumer always prefers to be on
Q8: Consumers are able to select the prices
Q10: The marginal rate of substitution is the
Q11: The slope of an indifference curve reflects
Q12: A budget constraint shows the bundles of
Q13: When goods are not easy to substitute
Q14: The indifference curve maps out the consumption
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