Refer to Figure 5.3. Which of the following statements is false?
A. Points a, b and c all represent best choices for the consumer.
B. It is possible for the consumer to afford better bundles than a.
C. Point b satisfies the tangency condition.
D. It is possible for the consumer to afford better bundles than c.
A. Points a, b and c all represent best choices for the consumer.
Economics
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Are all points inside the production possibilities frontier unattainable?
What will be an ideal response?
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Which of the following would lead to an upward shift of the consumption-income line?
a. A decrease in income b. A decrease in population c. An increase in income d. An increase in wealth e. An increase in the interest rate
Economics