#865548

#865548: 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.

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.
Варианты ответа:
  • Different
  • Same
  • Opposite

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Тематика: Микро- и макроэкономические основы рыночного ценообразования Теория отраслевых рынков Экономическая мысль дорыночной экономики
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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. Quantity tax is a tax on the amount consumed of a good, like a gasoline tax of 15 cents per gallon. An income tax is just a tax on Expenses. The Cobb-Douglas consumer always spends a fixed fraction of his income on each good. The size of the fraction is determined by the exponent in the Cobb-Douglas function.