Indifference curves
a. are nonintersecting.
b. are contour lines of a utility function.
c. are negatively sloped.
d. All of the above.
d
Economics
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If the percentage change in the quantity demanded is not zero but is less than the percentage change in the price, demand is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic. E) perfectly inelastic.
Economics
A truly voluntary exchange
A) has nothing to do with values, only with things. B) is always an exchange of equal values. C) is not an exchange of equal values. D) is usually an exchange of equal values.
Economics