« previous next »

Author Question: For an individual consumer, a corner solution may be optimal such that MRS and MRT are not equal, ... (Read 42 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
For an individual consumer, a corner solution may be optimal such that MRS and MRT are not equal,
 
  A) but this is not possible in an Edgeworth Box due to the transitivity of preferences.
  B) but this is not possible in an Edgeworth Box because price ratios must be positive.
  C) and this may also occur in an Edgeworth Box.
  D) and this may only occur in an Edgeworth Box under the perfect complements case.

Question 2

Which of the following is NOT true about the supply of labor to the firm in a competitive labor market?
 
  A) It is horizontal.
  B) It is perfectly elastic.
  C) It is equal to the marginal expenditure curve.
  D) It is upward sloping.


joshbk44

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

An individual's performance can be limited by environmental conditions, such as temperature. Ac An individual's performance can be limited by environmental conditions, such as temperature. Ac
Heiltsuk, Bent-Corner Chest (Kook). Heiltsuk, Bent-Corner Chest (Kook).
Hydration of ions in solution Hydration of ions in solution
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
Kepler’s Law of Equal Areas Kepler’s Law of Equal Areas
Obese individual with stretch marks (striae) Obese individual with stretch marks (striae)
Video: Genetic distance between human groups

For a complete list of videos, visit our video library