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
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
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 9SQP
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Question
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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