Question
If bundles of goods A and B lie on the same indifference curve, one can assume the individual: a. prefers bundle A to bundle B
If bundles of goods A and B lie on the same indifference curve, one can assume the individual:
| a. | prefers bundle A to bundle B. | |
| b. | bundle A contains the same goods as bundle B. | |
| c. | prefers bundle B to bundle A. | |
| d. | enjoys bundle A and B equally. |
If the price of x falls, the budget constraint:
| a. | rotates outward about the y-intercept. | |
| b. | rotates outward about the x-intercept. | |
| c. | shifts outward in a parallel fashion. | |
| d. | shifts inward in a parallel fashion. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Modern Auditing
Authors: Walter Gerry Kell, William C. Boynton, Richard E. Ziegler
5th Edition
0471542830, 9780471542834
