« previous next »

Author Question: If two goods are perfect substitutes, then the indifference curves for those two goods would be ... (Read 116 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?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Shippers Declaration for Dangerous Goods Shippers Declaration for Dangerous Goods
Survivorship curves "منحنيات البقاء على قيد الحياة" Survivorship curves "منحنيات البقاء على قيد الحياة"
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Two Kinds of Forgetting Curves Two Kinds of Forgetting Curves
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Survivorship curves. Blue lines are theoretical curves. Red dots are data from field studies. Survivorship curves. Blue lines are theoretical curves. Red dots are data from field studies.
Video: Inflammation and Fever

For a complete list of videos, visit our video library