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| slope of budget line |
Raging |
03/10/04 |
hi again sir, i'm not quite sure what the interpretation of the slope of the budget line is, is it that the amount of one good a consumer is willing to give up when compensated by enough of the other good to keep the consumer on the same level of satisfaction, or the maximum level of satisfaction for one consumer, or the diminishing marginal rate of substitution or the opportunity cost of one good in terms of the other, please clarify sir.
thank you. |
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