[Answered] Refer to Figure 3.1. Which of the following is true concerning Alvin's marginal rate of ...

This topic contains a solution. Click here to go to the answer

Author Question: Refer to Figure 3.1. Which of the following is true concerning Alvin's marginal rate of ... (Read 12 times)

RRMR

Hero Member
Posts: 557

on: Jul 1, 2018

Refer to Figure 3.1. Which of the following is true concerning Alvin's marginal rate of substitution?

A) It is diminishing.
B) It is positive but varies along the indifference curve.
C) It is constant.
D) It is zero.

Question 2

Which of the following are examples of perfectly competitive markets?

A) Wheat
B) Textiles
C) Gold
D) The stock market
E) all of the above

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marked as best answer by a Subject Expert

mistyjohnson

Sr. Member
Posts: 331

Reply #1 on: Jul 1, 2018

Answer to Question 1

C

Answer to Question 2

E

RRMR

Hero Member
Posts: 557

Reply #2 on: Jul 1, 2018

Thank you

mistyjohnson

Sr. Member
Posts: 331

Reply #3 on: Jul 1, 2018

No problemo

« previous next »

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Thyroid conditions may make getting pregnant impossible.