A consumer's preferences for $1 bills and $20 bills can be represented by indifference curves that are
a. bowed out from the origin.
b. bowed in toward the origin.
c. straight lines.
d. right angles.
c
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An input's marginal revenue product is given by:
a. the input's marginal expense times marginal revenue. b. the input's marginal expense times the input's marginal physical productivity. c. marginal revenue times the number of units employed. d. the input's marginal physical productivity times marginal revenue of the firm's output.
In a mixed strategy situation, a player does best by unpredictably mixing his strategies in accordance with probabilities that depend on the strategies of the others
Indicate whether the statement is true or false
The bulk of the M1 money supply is made up of
A. travels checks. B. checkable deposits. C. Federal Reserve notes. D. currency.
A consumer's ________________ line or constraint shows various combinations of two products that can be purchased with a specific amount of income.
Fill in the blank(s) with the appropriate word(s).