4. The following questions refer to the following graph of a consumer's indifference curve. a. b. Quantity of Y 40 30 20 10 0 I 10 C 20 B 30 Quantity of X 40 X What is the consumer's marginal rate of substitution between points A and C? At point C, approximately what is the consumer's marginal rate of substitution at point?

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
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4. The following questions refer to the following graph of a consumer's indifference curve.
a.
b.
Quantity of Y
40
30
20
10
0
T
I
A
10
C
B
1
20 30 40
Quantity of X
X
What is the consumer's marginal rate of substitution between points A and C?
At point C, approximately what is the consumer's marginal rate of substitution at
point?
Transcribed Image Text:4. The following questions refer to the following graph of a consumer's indifference curve. a. b. Quantity of Y 40 30 20 10 0 T I A 10 C B 1 20 30 40 Quantity of X X What is the consumer's marginal rate of substitution between points A and C? At point C, approximately what is the consumer's marginal rate of substitution at point?
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