If the slope of the indifference curve between goods X and Y is steeper than the slope of the budget line, and X is on the horizontal axis:.a. MRS = −PX/PY. b. the consumer is willing to give up more of good X to get an additional unit of good Y than is necessary under the current market prices. c. the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices. d. MRS > PX/PY.

c. the consumer is willing to give up more of good Y to get an additional unit of good X than is necessary under the current market prices.

Explanation:

The slope of an indifference curve measures the marginal rate of substitution, or basically how much of good Y you are willing to give up in order to consume more of good X. While the slope of the budget line is basically the relationship between the price of good Y over the price of good X.

When the slope of the indifference curve is steeper, you are willing to consume more of good X and less of good Y.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o