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Question
Market Rate of Exchange also denotes ______.
Options
Slope of PPC
Slope of Budget Line
Slope of Indifference Curve
None of these
MCQ
Fill in the Blanks
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Solution
Market Rate of Exchange also denotes Slope of Budget Line.
Explanation:
Market Rate of Exchange is the rate at which one good is exchanged for another in the market. It equals the price ratio and measures the slope of the budget line.
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