In a map showing three indifference curves a consumer is most well off on
A) the curve which is closest to the origin of the coordinate axes.
B) the curve which is most farther away from the coordinate axes.
C) the curve that is in the middle.
D) none of the above.
Answer: B
Economics
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Explain the two popular opinions held by economists on how to improve the economy
What will be an ideal response?
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Consider budget constraints A and B in the graph shown. The slope of A compared to the slope of B:
A. is steeper, showing that movie tickets are relatively more expensive in line A.
B. is flatter, showing that books are relatively less expensive in line A.
C. shows that the opportunity cost of books is smaller in line A.
D. shows that the opportunity cost of books is greater in line A.
Economics