A consumer maximizes satisfaction at the point where his ...

[melly21297]

A consumer maximizes satisfaction at the point where his valuation of good X, measured as the amount of good Y he would willingly give up to obtain an additional unit of X, equals:
 
  A) the magnitude of the slope of the indifference curve through that point.
  B) one over the magnitude of the slope of the indifference curve through that point.
  C) Px/Py
  D) Py/Px

Question 2

Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of 20, producer surplus will
 
  A) fall by 200.
  B) fall by 300.
  C) remain the same.
  D) rise by 200.
  E) rise by 300.

[carojassy25]

Answer to Question 1

C

Answer to Question 2

B

[melly21297]

Thank you

[carojassy25]

No problemo