A consumer's optimal choice is affected by income, prices of goods, and preferences

a. True
b. False
Indicate whether the statement is true or false

True

Economics

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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________

A) minimum supply-price of the second DVD is $18 B) price is $18 a DVD C) opportunity cost of the second DVD is $22 D) value of the second DVD is $20

Economics

During the recession phase of the business cycle,

A) interest rates are usually falling. B) income is usually rising. C) production is usually rising. D) unemployment is usually falling.

Economics