What is given by the absolute value of the slope of the community indifference curve at the point of consumption and declines as the nation moves down the curve?
A) marginal rate of substitution (MRS)
B) marginal rate of transformation (MRT)
C) marginal rate of return
D) marginal rate of technical substitution (MRTS)
Correct Answer:
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Q1: A(n)_ MRS would result in a community
Q2: What is another name for the opportunity
Q4: Community indifference curves are _ sloped and
Q5: The tastes or demand preferences of a
Q6: Nations will have different production possibilities frontiers
Q7: When countries engage in international trade,specialization tends
Q8: A(n)_ opportunity cost in production is reflected
Q9: Community indifference curves can never _.
A)be negatively
Q10: The _ of X for Y in
Q11: The marginal rate of transformation (MRT)of X
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