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Author Question: A consumer maximizes satisfaction at the point where his valuation of good X, measured as the amount ... (Read 160 times)

melly21297

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on: Jul 1, 2018
A consumer maximizes satisfaction at the point where his valuation of good X, measured as the amount of good Y he would willingly give up to obtain an additional unit of X, equals:
 
  A) the magnitude of the slope of the indifference curve through that point.
  B) one over the magnitude of the slope of the indifference curve through that point.
  C) Px/Py
  D) Py/Px

Question 2

Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of 20, producer surplus will
 
  A) fall by 200.
  B) fall by 300.
  C) remain the same.
  D) rise by 200.
  E) rise by 300.


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carojassy25

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

C

Answer to Question 2

B


melly21297

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Reply #2 on: Jul 1, 2018
Thank you


carojassy25

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Reply #3 on: Jul 1, 2018
No problemo


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