If an indifference curve has a kink, then:
A) the indifference curve is not convex to the origin.
B) the marginal rate of substitution is a meaningless concept.
C) preferences are normal.
D) the marginal rate of substitution is undefined at the kink.
Correct Answer:
Verified
Q25: Which of the following is not required
Q26: If the utility number associated with consumption
Q27: Tim consumes goods x and y. His
Q28: The utility function assigns a utility number
Q29: Indifference curves provide a way to graphically
Q31: If the utility number associated with consumption
Q32: Traffic in the city moves along as
Q33: Which of the following is a psychological
Q34: Indifference curves are not:
A)downward sloping.
B)continuous.
C)insatiable.
D)intersecting.
Q35: If the utility number associated with consumption
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents