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Author Question: If X and Y are perfect substitutes, which of the following assumptions about indifference curves is ... (Read 39 times)

PhilipSeeMore

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on: Jul 1, 2018
If X and Y are perfect substitutes, which of the following assumptions about indifference curves is not satisfied?
 
  A) Completeness
  B) Transitivity
  C) More is preferred to less
  D) Diminishing MRS
  E) none of the above (All of the above assumptions are satisfied.)

Question 2

The constant dollar price is:
 
  A) the real price of a good.
  B) the nominal price of a good adjusted for inflation.
  C) the current dollar price adjusted for inflation.
  D) all of the above
  E) none of the above


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Kimmy

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

D

Answer to Question 2

D


PhilipSeeMore

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

ghepp

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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