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22) Consider the budget line and indifference curve in Figure 9.3.1. At the best affordable point, the marginal rate of substitution is A) 1/2 B) 3/4 C) 4. D) 2. E) 4/3.

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Related questions

Use the figure below to answer the following questions. Good Y lunits) LI 2 4 Budget line 6 8 10 Good X (units) Figure 9.3.1 21) 21) Consider the budget line and indifference curve in Figure 9.3.1. If the price of good X is $1 a unit, then the price of good Y is A) $1.33 a unit. B) $1.25 a unit. C) $2 a unit. D) $0.75 a unit. E) $1 a unit.

14) At the best affordable point, which statement is true? A) The marginal rate of substitution between two goods equals their absolute price. B) Other points on the same indifference curve are affordable but not preferred. C) The slope of the indifference curve equals the slope of the budget line. D) The highest affordable indifference curve has the same intercept as the budget line. E) Some income is not spent.

25) At the best affordable point, which statement is true? A) The slope of the indifference curve equals the slope of the budget line. B) The marginal rate of substitution between two goods equals their absolute price. C) The highest affordable indifference curve has the same intercept as the budget line. D) Other points on the same indifference curve are affordable but not preferred. E) Some income is not spent.

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