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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. |
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