Author Question: The slope of the budget constraint line is: a. the ratio of the prices (px/py). b. the negative of ... (Read 53 times)

KWilfred · **on:** Jul 1, 2018

The slope of the budget constraint line is:
a. the ratio of the prices (px/py).
b. the negative of the ratio of the prices (px/py).
c. the ratio of income divided by price of y (I/py).
d. none of the above.

Question 2

The market for lemons is one in which
a. the rational buyer discounts
b. the seller's product claims are unverifiable at the point of purchase
c. the bad apples drive out the good
d. the problem of adverse selection is rampant
e. all of the above