Exhibit 6A-2 Consumer Equilibrium
?
Given the budget lines and indifference curves shown in Exhibit 6A-2, points D, A, and E yield:
A. more total utility than point B.
B. more total utility than points B and F.
C. less total utility than points B and C.
D. equal total utility to points B, F, and C.
Answer: C
You might also like to view...
Refer to Figure 13-3. Which of the points in the above graph are possible short-run equilibria but not long-run equilibria? Assume that Y1 represents potential GDP
A) A and B B) B and D C) A and C D) C and D
The monopolist has no supply curve because
A) the quantity supplied at any particular price depends on the monopolist's demand curve. B) the monopolist's marginal cost curve changes considerably over time. C) the relationship between price and quantity depends on both marginal cost and average cost. D) there is a single seller in the market. E) although there is only a single seller at the current price, it is impossible to know how many sellers would be in the market at higher prices.