If Fred's marginal utility of pizza equals 10 and his marginal utility of salad equals 2, then we know that
A) his indifference curves are convex.
B) his indifference curves are L-shaped.
C) his indifference curves are linear.
D) his indifference curves are downward sloping.
D
Economics
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In the Keynesian model in the long run, an increase in taxes causes the price level to ________ and the real interest rate to ________
A) fall; rise B) fall; fall C) rise; rise D) rise; fall
Economics
In the simple Keynesian model, if there is an autonomous investment falls by $20 billion and the MPC (b) is 0.60, the equilibrium income level will increase by
a. $13.3 billion. b. $20 billion. c. $50 billion. d. $100 billion.
Economics