1. All combinations on an indifference curve are equally acceptable to the consumer, however not all combinations are affordable.

Group of answer choices

False, all combinations are always affordable for every indifference curve.

False, only one combination is affordable on every indifference curve.

True, they can only afford the combinations that fall within the budget set.

True, all indifference curves are equally good choices if they are affordable.

2. A talented musician earns more money than other musicians in the industry. This is an example of ______.

Group of answer choices

Opportunity cost

Economic rent

Marginal cost

Economic profit