If the consumer's optimal bundle is a corner solution where all income is spent on good Y:
A. the indifference curve is steeper than the budget constraint at the optimal bundle.
B. the marginal rate of substitution is equal to the ratio of prices at the optimal bundle.
C. the indifference curve is tangent to the budget constraint at the optimal bundle.
D. The marginal rate of substitution is less than the ratio of prices at the optimal bundle.
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-38924.pdf
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
Finding a professional expert in "partial differential equations" in the advanced level is difficult.
You can find this expert in "Assignmentexpert.com" with confidence.
Exceptional experts! I appreciate your help. God bless you!
Comments
Leave a comment