Clark wishes to buy books and pens. Clark's best choice would be:
a. choosing a consumption bundle that lies above the budget line
b. choosing a consumption bundle that lies below the budget line.
c. choosing the consumption bundle where his highest indifference curve is tangent to the budget line.
d. choosing the consumption bundle where his lowest indifference curve first intersects the budget line.
c
Economics
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The Prisoners' Dilemma is a particular type of game in which negotiation and enforcement of binding contracts is not possible, and such games are known as:
A) cooperative games. B) noncooperative games. C) collusive games. D) Cournot games.
Economics
National income is calculated by subtracting ____ from GDP
a. depreciation. b. investment and net exports. c. Social Security insurance contributions and transfer payments. d. corporate and personal income taxes.
Economics