Why are indifference curves down sloping?
Please provide the best answer for the statement.
Indifference curves are down sloping because both products (A and B) yield utility to the consumer. More of both would increase utility, so for utility to remain constant, more of A means less of B and vice versa.
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In the figure above, with international trade U.S. companies buy ________ helicopters per year
A) 240 B) 480 C) 720 D) 360
Which of the following would be a useful way to increase the saving rate?
A) Tax breaks to increase the real return that savers receive B) Increasing taxes if Ricardian equivalence holds C) Increasing government spending D) Increasing taxes on capital goods
Which of the following is NOT true of an oligopoly?
A. The firms recognize their interdependence. B. Firms are price takers. C. A few firms account for a large portion of the total output. D. They advertise their product.
In the long run, with an increase in the plant size, _____
A. the short-run average total cost curve shifts downward B. the long-run average cost curve slopes downward C. the short-run average total cost curve shifts downward if economies of scale exist D. the average total cost of production rises