Question
In general, given the "usual"shaped indifference curves, the point of utility maximization occurs where: Select one:...
In general, given the "usual"shaped indifference curves, the point of utility maximization occurs where:
Select one:
a. the indifference curve crosses the budget constraint
b. the MRS of X for Y is equal to PX/ PY
c. the MRS of X for Y is equal to PY/ PX
d. the MRS of X for Y is equal to MUy/MUx
Homework Answers
Answer #1
Option b) the mrs of x for y is equal to Px/Py (is
correct) 
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