Multiple Choice
If two bundles are on the same indifference curve,then
A) the consumer derives the same level of utility from each.
B) the consumer derives the same level of ordinal utility from each but not the same level of cardinal utility.
C) no comparison can be made between the two bundles since utility cannot really be measured.
D) the MRS between the two bundles equals one.
Correct Answer:
Verified
Correct Answer:
Verified
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