Refer to Figure 10-8. Given the budget constraint in the diagram, which of the following statements is false?
A) Consumption bundles b and c yield the same level of utility, which is higher than the utility represented by bundle a.
B) The consumer's optimal bundle could be bundle d, e, or f.
C) Although the consumer receives the same level of utility from bundles d and e, she cannot afford to purchase bundle d.
D) The consumer receives the same level of utility from consumption bundles d, e, and f.
B
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The _____________________: the ratio of a property's annual net income to its value, is a fundamental pricing metric in commercial real estate markets.
Fill in the blank(s) with the appropriate word(s).
Opportunity cost is defined as
A) the highest valued alternative that must be given up to engage in an activity. B) the benefit of an activity. C) the total value of all alternatives that must be given up to engage in an activity. D) the monetary expense associated with an activity.