Essay
If good X is measured on the horizontal axis and good Y on the vertical, what can you say about the preferences of someone whose indifference curves are
a.parallel to the Y axis?
b.positively sloped with more desirable indifference curves as one moves to the right?
c.negatively sloped with more desirable indifference curves as one moves to the left?
Correct Answer:
Verified
a.This person doesn't care how...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q1: Belinda loves chocolate and always thinks that
Q2: The marginal rate of substitution measures the
Q3: Leo consumes only apples and bananas.He prefers
Q4: If we graph Mary Granola's indifference curves
Q6: Recall that Tommy Twit's mother measures the
Q7: Nancy's psychology teacher will give her a
Q8: A consumer who is unable to detect
Q9: If two goods are both desirable and
Q10: The relation "is preferred to" between commodity
Q11: Tim consumes only apples and bananas.He prefers