Which of the following is FALSE about indifference curves?
A) They are downward sloping.
B) They are convex to the origin.
C) They intersect.
D) They can shift.
Answer: C
Economics
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Which of the following is the best description of the effects of an increase in the supply of bread?
a. Consumers will pay more for bread. b. Bread prices will fall, and bread sales will rise. c. A permanent surplus of bread will remain on the market. d. Bakers will have higher marginal costs.
Economics
All cross elasticities are positive
Indicate whether the statement is true or false
Economics