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Author Question: If two goods are perfect substitutes, then the indifference curves for those two goods would be ... (Read 111 times)

skymedlock

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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
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akemokai

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


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