Which of the following statements about the budget constraint is true? The slope of the budget constraint is: (i) the rate at which a consumer can trade one good for another (ii) equal to the slope of the highest indifference curve (iii) constant   Select one: a. (i) and (ii) b. (i) and (iii) c. (ii) and (iii) d. (i) only Clear my choice

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 9SQP
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q18-

Which of the following statements about the budget constraint is true? The slope of the budget constraint is:

(i) the rate at which a consumer can trade one good for another

(ii) equal to the slope of the highest indifference curve

(iii) constant


 

Select one:
a.

(i) and (ii)

b.

(i) and (iii)

c.

(ii) and (iii)

d.

(i) only

Clear my choice
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