Suppose goods X and Y are produced along a production possibilities frontier 4X2 + Y2 = 500 and they are perfect substitutes such that U = X + Y.The slope of the production possibilities frontier is
.What is the MRS at the optimal point?
A) 0
B) -1
C) -4
D) -5
Correct Answer:
Verified
Q2: Consider a two-good production economy in which
Q3: Under a perfectly competitive price system
A)an equitable
Q6: Suppose two goods (X and Y )are
Q9: Suppose the Economics Department has a graduation
Q14: Suppose the Economics Department has a graduation
Q15: The slope of the production possibility frontier
Q17: Suppose the Economics Department has a graduation
Q18: Suppose goods X and Y are produced
Q19: Consider three ways of allocating two goods
Q19: Markets can fail to achieve efficiency when
A)there
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents