Author Question: A consumer is said to be indifferent between two consumption bundles A) when the consumer doesn't ... (Read 72 times)

Jkov05 · **on:** Jun 30, 2018

A consumer is said to be indifferent between two consumption bundles

A) when the consumer doesn't care about his or her consumption bundle.
B) when the two bundles provide equal amounts of utility.
C) when the consumer chooses the bundles equally often.
D) when the consumer is indecisive.

Question 2

There is a double coincidence of wants when

A) person 1 has what person 2 wants, who in turn wants what person 3 has.
B) person 1 has what person 2 wants, and person 2 has money.
C) person 1 has what person 2 wants, and person 2 has what person 1 wants.
D) person 1 has money, and person 2 has what person 1 wants.