True or false: If the indifference curve map is concave to the origin, then the optimal commodity

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True or false: If the indifference curve map is concave to the origin, then the optimal commodity basket must occur at a corner equilibrium, except possibly when there are quantity discounts.

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Microeconomics and Behavior

ISBN: 978-0078021695

9th edition

Authors: Robert Frank

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Question Posted: Dec 12, 2014 10:18 AM

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True or false: If the indifference curve map is concave to the origin, then the optimal commodity

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True The corner solution a Is on a higher indifference curve tha...View the full answer

Microeconomics and Behavior

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