What is the straight line that sums up all the possible combinations of two goods that would exhaust a consumer's income called ?
A) budget line.
B) income line.
C) combination line.
D) economics line.
E) none of the above.
Correct Answer:
Verified
Q2: A consumer's indifference curves will be influenced
Q3: An indifference curve represents consumption bundles among
Q4: When MUl/Pl = MU2/P2, the indifference curve
Q5: A consumer's indifference curves will be influenced
Q6: The slope of an indifference curve is:
A)the
Q8: In the figure below, a rise in
Q9: Increasing all prices and income in exactly
Q10: In the figure below, if the consumer
Q11: A purpose of indifference-curve analysis is to:
A)derive
Q12: The equilibrium condition for the consumer is
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