Answer - along
Reason - marginal rate of substitution is the unit of a good which the consumer is willing to sacrifice to get an extra unit of other good.
The combination of such goods are plotted along the indifference curve. And marginal rate of substitution can be calculated from any two of such points along the indifference curve.
Question 13 0.8 pts The marginal rate of substitution is obtained from two pointsthe indifference curve...
Question 31 2 pts Refer to the following indifference curve. The marginal rate of substitution (MRS) between points A and B is Slices of pizza A (1,5) 5 4+2 1-1 B (2,3) 3 +1 ! C (3,2) 2 -4 D (7,1) 1 Indifference curve 0 1 2 3 4 5 6 7 8 9 10 Cans of Pepsi O 1/2 -2 0-1/2 0 -1 O 1
Given the indifference curve shown to the right: a. What is the marginal rate of substitution are you move from point F to point G? b. Would you expect the absolute value of the MRS to be higher lower or the same as you continue to substitute audio CDs for books?
can someone help me Question 1 1 pts The Marginal Rate of Substitution is the slope of the indifference curve. O True O False
3. An indifference curve is a. the set of all points of consumer equilibrium as the consumer's income changes. b. all combinations of goods X and Y that yield the same total utility. c. all combinations of goods X and Y that yield the same marginal utility. d. the set of all goods that the consumer can afford given her income and the prices of the goods. 4. Which of the following is NOT a property of an indifference curve?...
. Given that the slope of an indifference curve at any point is the “marginal rate of substitution” between Y and X explain/prove that MRS is equal to the ratio of the consumer’s marginal evaluation of good X to his/her marginal evaluation of good Y (i.e. MRS = -MUx/MUy). (2 pts)
Please help with these questions Question 1 0.8 pts Marginal utility O occurs when a consumer buys more of a good as a result of a relative price change O occurs when total utility declines as consumption increases. O occurs when there is a change in purchasing power as a result of a change in the price of a good. O is the additional satisfaction derived from consuming one more unit of a good or service. is the combination of...
Please help with these questions Question 16 0.8 pts The combinations that a consumer can afford line, and the area underneath, contain all of the possible indifference 0 redaction O Maginot O optimization O budget constraint Question 17 0.8 pts Since two goods are subject to diminishing marginal utility, the marginal rate of substitution is O always increasing O variant constant. the inverse slope of the indifference curve. O always decreasing. Question 18 0.8 pts Utility is a balance between...
Marginal rate of substitution is _____ a. Increasing because consumer’s indifference curve is bowed outward b. Diminishing because consumers prefers variety and prefer a balanced consumption c. Increasing because consumers can easily find complementary goods d. Decreasing because consumer’s utility curve is linear
The point where the indifference curve is tangent to the budget line A. is a point on consumer's demand curve. B. is the best affordable point. C. is where the marginal rate of substitution exceeds the relative price by as much as possible. D. All of the above answers are correct.
2. What's the definition of marginal rate of substitution? What happens to the MRS as you move along a convex indifference curve? A linear indifference curve?