The following figure shows the indifference curves U 1 and U 2 of a consumer choosing between hours devoted at a tennis club and other goods.All consumers in this market have identical demand curves.IZ is the original budget line of a representative consumer,which shifts to AB when the club begins to charge an entry fee.
Figure 12-3
-In Figure 12-3,if the fee goes above _____,the consumer will purchase no court hours.
A)OZ
B)IA
C)EF
D)OE

Question

The following figure shows the indifference curves U 1 and U 2 of a consumer choosing between hours devoted at a tennis club and other goods.All consumers in this market have identical demand curves.IZ is the original budget line of a representative consumer,which shifts to AB when the club begins to charge an entry fee.
Figure 12-3 
-In Figure 12-3,if the fee goes above _____,the consumer will purchase no court hours.
A)OZ 
B)IA 
C)EF 
D)OE

Quizplus · Accepted Answer

The Answer of The following figure shows the indifference curves U 1 and U 2 of a consumer choosing between hours devoted at a tennis club and other goods.All consumers in this market have identical demand curves.IZ is the original budget line of a representative consumer,which shifts to AB when the club begins to charge an entry fee.
Figure 12-3 
-In Figure 12-3,if the fee goes above _____,the consumer will purchase no court hours.
A)OZ 
B)IA 
C)EF 
D)OE

The Following Figure Shows the Indifference Curves U1 and U2

The Following Figure Shows the Indifference Curves U₁ and U₂