Which of the following is not a property of a typical indifference curve?
a. downward sloping
b. bowed away from the origin
c. does not intersect another indifference curve
d. a higher one is preferred to a lower one
b
Economics
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A pure public good is _____ and _____
a. nonexcludable; private in consumption b. excludable; private in consumption c. excludable; collective in consumption d. nonexcludable; collective in consumption
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Income elasticity of demand describes how change in income affects the quantity demanded of a good.
Answer the following statement true (T) or false (F)
Economics