Question
Consider a Robinson Crusoe economy. Robinson's utility function takes coconuts and leisure as its arguments. He can divide his time into leisure or labour (working).
Consider a Robinson Crusoe economy. Robinson's utility function takes coconuts and leisure as its arguments. He can divide his time into leisure or labour (working). If we plot his indifference curve on a diagram where labour is on the horizontal axis and coconuts on the vertical axis, then his indifference curve will have a positive slope.
True or False?
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Financial Accounting
Authors: C Thomas,
12th Edition
007760086X, 9780077600860
