Author Question: In the above figure, at the best affordable point, the marginal rate of substitution is A) 0.5 of ... (Read 35 times)

newyorker26 · **on:** Jun 29, 2018

In the above figure, at the best affordable point, the marginal rate of substitution is

A) 0.5 of a hamburger per magazine.
B) 1 hamburger per magazine.
C) 1.33 hamburgers per magazine.
D) 8 hamburgers per magazine.

Question 2

Which curve intersects the AVC curve at its minimum point?

A) the MC curve
B) the ATC curve
C) the AFC curve
D) the MP curve