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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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