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1. Which of the following does not describe well-behaved indifference curves? a/indifference curves are negatively sloped b/higher utility is associated with lower indifference curves c/their
1. Which of the following does not describe well-behaved indifference curves?
a/indifference curves are negatively sloped
b/higher utility is associated with lower indifference curves
c/their slope is declining as we increase the xx commodity
d/indifference curves never cross
2.Negative returns to labor means the productivity of the last worker added to production is negative.
True
False
3.If it costs a total of $70 to produce 7 units and a total of $80 to produce 9 units, then MC is
a/80
b/5
c/10
d/2
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