Which of the following is characteristic of indifference curves?
A. They are negatively sloped.
B. They never intersect.
C. They are convex toward the origin.
D. All of the responses are correct.
Answer: D
Economics
You might also like to view...
The opportunity cost of producing one ton of wheat for Country Gamma is 4 tons of corn. The opportunity cost of producing one ton of wheat for Country Beta is 8 tons of corn. Which country has the comparative advantage in the production of wheat?
A) Gamma B) Beta C) Neither country has a comparative advantage. D) Both countries have the comparative advantage.
Economics
At any price the monopolist sets, it will sell:
A. less than quantity demanded to keep the item rare. B. as many as demanders are willing to buy. C. as many as it wants. D. more than a perfectly competitive market would sell.
Economics