A. the marginal rate of substitution
B. the marginal rate of trade-off.
C. the trade-off rates
D. the marginal rate of indifference
Related Mcqs:
- Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good Y, the marginal rate of substitution of good Y for good X (the slope of the indifference curve) ?
A. rises
B. stays the same
C. could rise or fall depending on the relative prices of the two goods.
D. falls - The change in consumption that results when a price change moves the consumer along a given indifference curve is known as the ?
A. inferior effect
B. normal effect
C. substitution effect
D. complementary effect
E. income effect - Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
A. relatively greater than
B. relatively less than
C. the same as
D. Any of the above - Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?
A. relatively greater then
B. relatively less than
C. the same as
D. any of the above - The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero - In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve - indifference curves for perfect substitutes are ?
A. right angles
B. bowed outward
C. straight lines
D. nonexistent
E. bowed inward - Which of the following statements is not true with regard to the standard properties of indifference curves ?
A. Indifference curves are downward sloping
B. indifference curves are bowed outward
C. Indifference curves do not cross each other
D. Higher indifference curve is preferred to lower ones - The slope of marginal revenue curve is ?
A. always equal to one.
B. half as steep as the demand curve
C. the same as the slope of the demand curve
D. twice as steep as the demand curve - For the Eurozone countries, the most important source of the downward slope of the aggregate demand curve is probably ?
A. The wealth effect
B. None of these answers
C. The exchange-rate effect
D. The fiscal effect
E. The interest-rate effect
