Multiple Choice
If the utility for two goods "x" and "y" is measured as U = x + y,then it can be concluded that
A) "x" and "y" are perfect substitutes.
B) "x" and "y" are perfect complements.
C) "x" and "y" are both bads.
D) the indifference curves on the x,y graph will be upward sloping.
Correct Answer:
Verified
Correct Answer:
Verified
Q84: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -Max has allocated
Q85: Indifference curves cannot ever be concave for
Q86: Johnny has $100 to spend on books
Q87: If two goods,"x" and "y",are perfect substitutes,then
Q88: By selecting a bundle where MRS =
Q90: Bounded rationality suggests that<br>A) individuals might make
Q91: Indifference curves for perfect substitutes must be
Q92: Joe's income is $500,the price of food
Q93: An optimal choice in which a consumer
Q94: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6808/.jpg" alt=" -Max has allocated