A budget line shows the A) consumption possibilities of a ...

[c0205847]

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.

[jaykayy05]

Answer to Question 1

A

Answer to Question 2

C

[c0205847]

Thanks for the timely response, appreciate it

[nanny]

Great answer, keep it coming