Solved

Along an Indifference Curve,if the MRS of Food (F)for Clothing

Question 1

Multiple Choice

Along an indifference curve,if the MRS of food (F) for clothing (c.is 1F/2C,this means the consumer:


A) has a stronger preference for clothes than for food.
B) would be willing to give up 1 unit of food for 2 units of clothing,and would be better off with the exchange.
C) would be willing to give up 1 unit of food for 2 units of clothing,but his or her total utility will not increase.
D) would be willing to give up 2 units of food for 1 unit of clothing.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents