This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A budget line shows the A) consumption possibilities of a consumer at a given level of income and ... (Read 151 times)

c0205847

  • Hero Member
  • *****
  • Posts: 531
on: Jun 29, 2018
A budget line shows the
 
  A) consumption possibilities of a consumer at a given level of income and prices.
  B) complete set of preferences for a household at various incomes.
  C) consumption possibilities for several sets of relative prices at a level of income.
  D) rate at which consumers wish to substitute one good for another.

Question 2

Because the demand for a perfectly competitive firm's product is perfectly elastic, marginal revenue is equal to
 
  A) one.
  B) zero.
  C) the price of the product.
  D) negative one.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaykayy05

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


c0205847

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Excellent

LVPMS

  • Member
  • Posts: 323
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

A nurse shows empathy to a client. A nurse shows empathy to a client.
This illustration shows the decibel level in various locations and associated with different ... This illustration shows the decibel level in various locations and associated with different ...
Global Stratification: Income of the World's Nations Global Stratification: Income of the World's Nations
Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ... Two wells are filled with the same antigen, and when they diffuse to the antibody, they make a line ...
The energy budget The energy budget
Find the curved line Find the curved line
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library