An increase in total utility would be depicted using indifference curve analysis as:
a. a movement down along an indifference curve to the southeast
b. a movement up along an indifference curve to the northwest.
c. a movement from one indifference curve to another located to the northeast.
d. a movement from one indifference curve to another located to the southwest.
c
You might also like to view...
The table above shows the total product schedule for The X Firm. Increasing marginal returns occur until the ________ worker because ________
A) 4th; the marginal product of the 4th worker exceeds the 3rd worker, but not the 5th worker B) 5th; output is maximized C) 5th; output declines with the 6th worker D) 3rd; the average product of labor is also increasing E) 4th; the average product of labor is also increasing
Over time, the consumer basket of a base year becomes increasingly more representative of the things consumers buy
Indicate whether the statement is true or false
An organization of sellers designed to coordinate their supply decisions to maximize joint profits is called a
a. consumer cooperative. b. marketing association. c. regulatory agency. d. cartel.
Which of the following best expresses the proceeds a lender receives from a one-year simple loan when the annual interest rate equals i?
A. FV/i B. PV/i C. PV(1 + i) D. PV + i