The marginal rate of substitution is the
A) absolute value of the indifference curve.
B) tradeoff rate between the two goods under consideration at any particular point.
C) total utility derived at any point.
D) rate at which the consumer increases utility.
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Q2: Perfect substitutes will have indifference curves which
Q3: If the consumer's budget constraint is given
Q4: An increase in income with no changes
Q5: The "composite good" refers to
A)large purchases that
Q6: If the consumer's budget constraint is given
Q7: Suppose you are choosing between milk and
Q8: What assumptions are necessary to prevent indifference
Q9: Which is true of the two budget
Q10: A diminishing marginal rate of substitution implies
Q11: Bundles that lie above the indifference curve
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