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Author Question: Refer to Figure 3.1. Which of the following is true concerning Alvin's marginal rate of ... (Read 55 times)

RRMR

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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



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mistyjohnson

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Answer to Question 1

C

Answer to Question 2

E





 

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