#865545

#865545: The optimal choice of the consumer is that bundle in the consumer’s budget set that lies on the … indifference curve.

The optimal choice of the consumer is that bundle in the consumer’s budget set that lies on the … indifference curve.
Варианты ответа:
  • Highest
  • Lowest
  • Middle

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Тематика: Микро- и макроэкономические основы рыночного ценообразования Теория отраслевых рынков Экономическая мысль дорыночной экономики
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Typically, the optimal bundle will be characterized by the condition that the slope of the indifference curve (the MRS) will equal the slope of the … line. If we observe several … choices it may be possible to estimate a utility function that would generate that sort of choice behavior. Such a utility function can be used to predict future choices and to estimate the utility to consumers of new economic policies. If everyone faces the same prices for the two goods, then everyone will have the … marginal rate of substitution, and will thus be willing to trade off the two goods in the same way. The optimal choice of goods 1 and 2 at some set of prices and income is called the consumer’s … bundle. The demand function is the function that relates the optimal choice—the quantities demanded—to the different values of prices and incomes.