Fundamentals Of Economics - Fundamentals Of Economics Section 2
3. As per the indifference curve and price line, a consumer will not be in equilibrium when
- A
Ratios of marginal utilities and price of the respective goods are equal
- B
The ratio of marginal utilities of the two goods is equal to the ratio of their respective prices
- C
The marginal rate of substitution is equal to the ratio of prices of the two goods.
- D
The marginal rate of substitution is decreasing.
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