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Author Question: The absolute value of the slope of the budget constraint is equal to A) the quantity of the good ... (Read 82 times)

fagboi

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on: Jun 29, 2018
The absolute value of the slope of the budget constraint is equal to
 
  A) the quantity of the good on the vertical axis divided by the quantity of the good on the horizontal axis.
  B) the price of good on the horizontal axis divided by the price of the good on the vertical axis.
  C) the marginal rate of substitution between the two goods in question.
  D) the price of good on the vertical axis divided by the price of the good on the horizontal axis.

Question 2

Refer to Figure 15-12. If the firm maximizes its profits, the deadweight loss to society due to this monopoly is equal to the area
 
  A) EFG. B) ACE. C) ABEG. D) ABF.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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amit

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


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