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03-22-2008, 11:11 PM
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| ECONOMICS QUESTION!!!! dealin with the slope of budget constraint.? the slope of the budget constraint at any point on it is equal to the .......? A. price of a good on the vertical axis divided by the price of the good on the horizontal axis multiplied by minus one B. price of a good on the horizontal axis divided by the price of the good on the vertical axis multiplied by minus one C. quantity of the good on the vertical axis divived by the quantity of the good on the horizontal axis D. mariginal rate of substitution      |
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03-22-2008, 11:13 PM
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| Slope is rise over run (or vertical over horizontal). In this case, your dealing with the budget constraint, so you want the price of good Y (vertical) over the price of good X (horizontal). The budget constraint slopes downward (negative) so it's multiplied by -1. The answer is A. The marginal rate of substitution is the slope of an indifference curve. |
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