Multiple Choice
If we consider the bundles A = (5,30) and B = (6,40) , then:
A) the consumer is indifferent between A and B.
B) A is preferred to B.
C) utility at point A is lower than the utility at point B.
D) B is preferred to A.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q67: If an indifference curve has a kink,
Q68: Which of the following is required for
Q69: If an indifference curve is convex, the
Q70: If the marginal rate of substitution is
Q71: The slope of an indifference curve reflects:<br>A)the
Q73: Tim consumes goods x and y. His
Q74: Which of the following is a scarce
Q75: If people regard pollution as a bad
Q76: Explain the difference between ordinal and cardinal
Q77: Given the following utility function, U(x<sub>1</sub>,x<sub>2</sub>)= x<sub>1</sub><sub>