Suppose that indifference curve I1 lies to the right of indifference curve I2. We can conclude that

A. all points along indifference curve I1 will correspond to lower utility than points along indifference curve I2.
B. some, but not all, points on indifference curve I1 will correspond to lower utility than points along indifference curve I2.
C. all points along indifference curve I1 will correspond to higher utility than points along indifference curve I2.
D. some, but not all, points on indifference curve I1 will correspond to higher utility than points along indifference curve I2.


Answer: C

Economics

You might also like to view...

The above table gives assets and deposits for a (small) bank. The bank's deposits that are part of M2 are equal to

A) $600. B) $1600. C) $3,100. D) $30. E) $5,100.

Economics

Suppose that trade in asset is not allowed but the two countries sign a treaty that guarantee the sending of 25 tons of kiwi in good time by the high output country in that season. What will the outcome of such a treaty? Explain why

What will be an ideal response?

Economics

Which of the following describes the relationship between the change in inventories and aggregate expenditure?

a. Aggregate expenditure equals the change in inventories minus GDP. b. The change in inventories equals GDP divided by aggregate expenditures. c. Aggregate expenditures equals GDP divided by the change in inventories. d. Aggregate expenditures equals GDP minus the change in inventories. e. The change in inventories equals GDP multiplied by aggregate expenditure.

Economics

What are the economic implications of rising health care costs?

What will be an ideal response?

Economics