Business, 28.11.2020 01:20 nyny980

If the slope of the indifference curve between goods X and Y is steeper than the slope of the budget line, and X is on the horizontal axis:.a. MRS = −PX/PY. b. the consumer is willing to give up more of good X to get an additional unit of good Y than is necessary under the current market prices. c. the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices. d. MRS > PX/PY.

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If the slope of the indifference curve between goods X and Y is steeper than the slope of the budget...

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