Which of the following is true along an individual’s indifference curve for ordinary goods?
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B. |
C. |
D. |
E. |
Which of the following is/are true of indifference curves for ordinary goods?
They cannot intersect.
They have a negative slope.
They are convex.
A. |
B. |
C. |
D. |
E. |
Moving from left to right along an indifference curve, which of the following increases?
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B. |
C. |
D. |
E. |
If the quantity of good X is measured on the horizontal axis and the quantity of good Y is measured on the vertical axis, the marginal rate of substitution is equal to
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B. |
C. |
D. |
E. |
If the quantity of good X is again measured on the horizontal axis and the quantity of good Y is measured on the vertical axis, which of the following is true? The optimal consumption bundle is found where
A. |
B. |
C. |
D. |
E. |