You have just found the consumer's optimal combination of goods using constrained optimization. The marginal utility of income is the:

Indifference curves are downward sloping because of the assumption of

A) completeness. B) transitivity. C) more is better. D) All of the above.

A perfectly competitive firm's long-run supply curve is that part of its MC curve that lies above the point where MC = AVC

Indicate whether the statement is true or false