For a given set of prices, two consumers choose bundles that are off the contract curve. In a competitive market,
A) prices will adjust until the consumers choose bundles that are on the contract curve.
B) the indifference curves will shift back to the contract curve.
C) the contract curve will shift to connect these bundles.
D) no adjustments need to be made.
A
Economics
You might also like to view...
Unlike the steel industry, the automobile industry
(a) became more concentrated. (b) became less concentrated. (c) remained the same in terms of concentration. (d) constantly fluctuated in terms of concentration.
Economics
U.S. prisoners of war during World War II used cigarettes as a medium of exchange
Indicate whether the statement is true or false
Economics