Suppose consumer cannot taste the difference between Miller Lite and Bud Light, but Miller Lite is sold in 12 ounce cans while Bud Light is sold in 8 ounce cans. In a graph with cans of Miller Lite on the horizontal and cans of Bud Light on the vertical axis, which of the following is the correct slope for this consumer's indifference curves:
A.
B.
C.
D.
Answer: C
You might also like to view...
Referring to Figure 19.1, the peso is likely to depreciate if the exchange rate is either ________ or ________ pesos to the dollar
A) 10; 11 B) 11; 12 C) 12; 13 D) 13; 14
Which of the following statements is true of optimization?
A) Optimization analysis only relates to the financial budget of an economic agent. B) Individuals who optimize do not consider costs when choosing the most feasible alternative. C) Economic agents can optimize only when they are able to perfectly estimate all future costs and benefits. D) Economic agents who optimize attempt to choose the best feasible option, given the information that they have.
If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 Mexican pesos. b. 0.05 Mexican pesos. c. 0.05 U.S. dollars. d. 20 U.S. dollars. e. 1 Mexican peso.
Which of the following explains the changes in the U.S. adult male labor force participation rate since 1948?
A) More men are joining the military as compared to the past. B) More men are retiring later in life as compared to the past. C) Fewer men consider themselves discouraged workers as compared to the past. D) Younger men are remaining in school longer as compared to the past.