A consumer will achieve the highest level of utility possible when she consumes
A) at the point at which the highest indifference curve is tangent to the budget constraint.
B) at the point at which the indifference curve crosses the budget constraint.
C) at a point to the left of the budget constraint.
D) just below the point where the indifference curve crosses the budget constraint.
Answer: A
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Given this information, which of the two banks is more prone to bank runs and why?
What is a price support program in an agricultural market? Explain its impact on a market
What will be an ideal response?
law of comparative advantage
What will be an ideal response?
The argument in favor of regulation for natural monopolies, externalities, and cases of imperfect information is:
A. market failure. B. overallocation of resources to production. C. insufficient economic profits. D. excessive entry of new firms.