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Author Question: A budget line shows the A) consumption possibilities of a consumer at a given level of income and ... (Read 150 times)

c0205847

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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.


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jaykayy05

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

A

Answer to Question 2

C


c0205847

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Reply 2 on: Jun 29, 2018
:D TYSM

robbielu01

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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