The indifference curves in the above figure could represent your indifference curves between
A) Coke and Pepsi, which you consider perfect substitutes.
B) eyeglass frames and eyeglass lenses, which you think are perfect complements.
C) hot dogs and textbooks, which you think are neither perfect substitutes nor perfect complements.
D) none of the above.
B
Economics
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Private costs are:
a. the full resource costs of an economic activity. b. always less than social costs. c. the costs of an economic activity borne by the producer. d. all of these.
Economics
Compared to perfect competition, monopoly
a. provides less output. b. charges a higher price. c. results in higher cost (inefficient) production. d. All of the above are correct.
Economics