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Biscuits a U U Tea Refer to the diagram above, which illustrates various combinations (bundles) of two goods, biscuits (good Y) and tea (good X).
Biscuits a U U Tea Refer to the diagram above, which illustrates various combinations (bundles) of two goods, biscuits (good Y) and tea (good X). Based on the preference tools of Ordinal Utility Theory, we can conclude: the consumer is indifferent between combinations b and c. the consumer prefers combination b to combination a. A. B. C. the consumer prefers combination c to combination a. D. all of the above
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