If two indifference curves cross, all points on both curves would yield an equal level of utility, which would violate the "more is better" property

Explain how the nominal wage rate is converted into the real wage rate. Explain why this process of conversion changes the nominal wage rate into the real wage rate

What will be an ideal response?

Refer to Figure 4-1. Kendra's marginal benefit from consuming the third ice cream cone is

A) $13.00 B) $2.50 C) $1.50 D) $0.50