Multiple Choice
When a consumer is purchasing the best combination of two goods, X and Y, subject to a budget constraint, we say that the consumer is at an optimal choice point. A graph of an optimal choice point shows that it occurs
A) along the lowest attainable indifference curve.
B) where the indifference curve crosses the budget constraint.
C) where the marginal utility per dollar spent is higher for X than for Y.
D) along the highest attainable indifference curve.
Correct Answer:
Verified
Correct Answer:
Verified
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Q102: Figure 21-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 21-6
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Q105: Figure 21-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 21-11
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Q108: Figure 21-12 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 21-12
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