« previous next »

Author Question: If two goods are perfect substitutes, then the indifference curves for those two goods would be ... (Read 104 times)

skymedlock

  • Hero Member
  • *****
  • Posts: 561
on: Jul 1, 2018
If two goods are perfect substitutes, then the indifference curves for those two goods would be
 
  A) upward sloping and concave to the origin.
  B) downward sloping and convex to the origin.
  C) downward sloping and straight.
  D) L-shaped.

Question 2

Diminishing marginal rate of substitution can be seen when indifference curves
 
  A) cross.
  B) are convex.
  C) are downward sloping.
  D) become flatter as we move down and to the right.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


akemokai

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Idealized survivorship curves. Idealized survivorship curves.
Dose-Response Curves for Morphine Dose-Response Curves for Morphine
"Practice makes perfect" "Practice makes perfect"
Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ... Human photopic (cone) and scotopic (rod) spectral sensitivity curves. The peak of each curve has ...
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Lastlings - Perfect World (Official Music Video) Lastlings - Perfect World (Official Music Video)
Video: Chromosome structural organization/ Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library