Graphically, the optimum choice of a consumer is determined at:
a. the point of intersection of the lowest indifference curve and the budget constraint.
b. the point of intersection of the budget line and the vertical axis
c. the point where the highest indifference curve is tangent to the budget constraint.
d. the point of intersection of the budget line and the horizontal axis.
c
Economics
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All else equal, as the price of a product falls, the quantity supplied increases
Indicate whether the statement is true or false
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