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aznmistyblue aznmistyblue
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A year ago
When a consumer's marginal rate of substitution between X and Y is equal to the ratio of prices for X and Y, and when the consumer is spending all available income, then

▸ the consumer is not maximizing his utility.

▸ the budget line is tangent to the indifference curve at all quantities of X and Y.

▸ all budget lines are tangent to all indifference curves.

▸ a higher indifference curve can be reached given the existing budget line.

▸ the budget line is tangent to an indifference curve.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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Juke72Juke72
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A year ago
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aznmistyblue Author
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A year ago
Thanks for your help!!
mmmm_dat_userna
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Yesterday
Thank you, thank you, thank you!
sudenzia
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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