The isoquants are normally drawn with a convex shape because inputs are:

Which of the following are examples of non-rival and exclusive goods?

a. public swimming pool b. golf course c. subways d. all of the above goods are non-rival and exclusive

An individual is endowed with $100 of income in period 1, and will receive an income of 121 in period 2. The interest rate is 10%, and there are only 2 periods. The maximum first period consumption consistent with the intertemporal budget constraint is

a) 100 b) 110 c) 121 d) 210 e) 221