True/False
Use the following to answer questions :
Figure 5A-2
-In Figure 5A-2, starting from the budget constraint AC, if both income and prices are doubled, the household's budget constraint would shift out to EF, and the household could attain a utility level of U(4).
Correct Answer:

Verified
Correct Answer:
Verified
Q29: In consumer equilibrium, the consumer's substitution ratio
Q30: All consumers have the same indifference curves.
Q31: The equilibrium condition for the consumer is
Q32: In the figure below, if the consumer
Q33: An indifference curve is bowed out like
Q35: Consumer equilibrium on an indifference map is
Q36: The slope of the indifference curve measures
Q37: An indifference curve represents consumption bundles among
Q38: Indifference curves are generally convex to the
Q39: Geometrically, the consumer is at equilibrium where