18. Consumer Choice and Behavioral Economics
Indifference Curves
Multiple Choice
Multiple ChoiceIf the marginal rate of substitution is equal to 2 at a point on an indifference curve, then the consumer would:
A
Give up 1 units of the 'y-axis' good for 2 units of the 'x-axis' good
B
Give up 2 units of the 'y-axis' good for 1 unit of the 'x-axis' good
C
Pay an additional $2 for one unit of the 'y-axis' good
D
Pay an additional $2 for one unit of the 'x-axis' good
323
views
3
rank
Related Videos
Related Practice
Showing 1 of 25 videos