Points on the same utility curve are
A. points where the person is indifferent between bundles on the line.
B. points where utility is maximized.
C. never possible.
D. known as "points of light."
A. points where the person is indifferent between bundles on the line.
You might also like to view...
Import quotas ________ the price of imported goods and ________ the quantity consumed in the nation imposing the quota
A) raise; increase B) raise; decrease C) lower; increase D) lower; decrease
A sales tax is divided so that the
A) buyers pay the full amount if demand is perfectly elastic. B) buyers pay the full amount if supply is perfectly inelastic. C) sellers pay the full amount if supply is perfectly elastic. D) sellers pay the full amount if demand is perfectly elastic.
Who would most likely lobby Congress for a price support on wool?
a. retail sweater outlets b. consumers of wool caps c. taxpayers d. wool producers e. sheep
An analysis of market failure and government failure indicates
What will be an ideal response?