Each of the following are characteristics of a typical indifference curve map except
a. moving northeast to a new indifference curve will increase utility.
b. points on the same indifference curve yield equal utility.
c. the axes represent levels of utility for each of the goods.
d. indifference curves cannot cross.
c
You might also like to view...
Use the following graph showing the demand and marginal revenue curves faced by a pure monopoly to answer the next question.
If the pure monopoly wants to sell quantity Q1, it should charge
A. P1. B. P2. C. 0. D. a price not labeled on the graph.
________ is likely to result in an increase in the total efficiency units of labor in an economy
A) A decrease in the capital-labor ratio in the economy B) An increase in the unemployment rate in the economy C) A decrease in the labor force participation rate in the economy D) An increase in the productivity of each worker in the country
If the required reserve ratio, m, is 20 percent, then the oversimplified money multiplier is
a. 10. b. 5. c. 4. d. 2.
Monopoly Industry is one where
a) There is only one producer. b) There are several producers. c) There are significant barriers to the entry of new firms. d) There is one producer and there are barriers to the entry of new firms.