________ on an indifference curve that is farther from the origin ________ on an indifference curve that is closer to the origin
A) Some combinations; are preferred to some combinations
B) Any combination; is preferred to any combination
C) Most combinations; are preferred to all combinations
D) Combinations; are not as affordable as combinations
B
You might also like to view...
Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. By the principle of comparative advantage, Mike should specialize in producing
A. cars. B. neither cheese nor cars. C. both cheese and cars. D. cheese.
If a firm wants to buy a piece of capital equipment, is this firm a demander or supplier in the financial market?
What will be an ideal response?
If Al is risk averse, as his wealth increases, his total utility of wealth ________ and his marginal utility of wealth ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Interest income is
a. the largest component of national income b. interest received by individuals for providing capital to the resource market c. the most stable component of national income d. capital e. part of the expenditure approach to GDP accounting