A curve/line that shows combinations of goods among which a consumer would not desire one combination of goods to another combination of goods on that curve/line is called
A) a budget line.
B) an indifference curve.
C) a utility possibilities curve.
D) a demand curve.
B
You might also like to view...
Vertical integration can
A) lower transaction costs due to lower costs of writing and enforcing contracts. B) increase management costs and complexity. C) reduce problems between owners and managers. D) All of the above.
Complementary goods are goods:
a. that are consumed jointly. b. that are consumed one in place of the other. c. for which demand increases when the price of its complementary goods increases. d. for which demand decreases when the price of its complementary goods decreases. e. that are inversely related.
If a regulatory board wanted to make sure that a natural monopoly chose a price resulting in the efficient level of output, it should set a price equal to: a. marginal cost
b. average fixed cost. c. average variable cost. d. average total cost.
Which of the following trade rounds was started in 2001 but has never been settled even in 2012 and whose goals were aimed at lowering tariffs on a wide range of industrial and agricultural products?
a. Uruguay b. Switzerland c. Doha d. All rounds have been completed.