This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Every point on a budget line has an indifference curve passing through it. Explain whether the ... (Read 74 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
on: Jun 29, 2018
Every point on a budget line has an indifference curve passing through it. Explain whether the previous statement is correct or not.
 
  What will be an ideal response?

Question 2

The above figure shows the marginal private benefit and marginal social cost of a college education. If students receive a 10,000 voucher
 
  A) no students will go to college.
  B) less than 10 million students will go to college.
  C) 10 million students will go to college.
  D) more than 10 million students will go to college.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zacnyjessica

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is correct. The consumer has a preference map that consists of an infinite number of indifference curves, one through every possible consumption combination. So there is an indifference curve passing through every point on a budget line.

Answer to Question 2

D


RODY.ELKHALIL

  • Member
  • Posts: 591
Reply 2 on: Jun 29, 2018
Wow, this really help

mcarey591

  • Member
  • Posts: 365
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

First Line of Defence First Line of Defence
Artist's conception of the New Horizons spacecraft passing over Pluto, showing its tenuous atmo Artist's conception of the New Horizons spacecraft passing over Pluto, showing its tenuous atmo
Stressing that education reproduces a country’s social class system, conflict theorists point out ... Stressing that education reproduces a country’s social class system, conflict theorists point out ...
(A) Pinch along jaw line from midline to lateral aspect. (B) Press St-6 at masseter attachment. (A) Pinch along jaw line from midline to lateral aspect. (B) Press St-6 at masseter attachment.
. Calculate the net electric field at point B . Calculate the net electric field at point B
At what speed does Grogzetti need to take the curve to avoid sliding? At what speed does Grogzetti need to take the curve to avoid sliding?
Video: Alternative Energy Sources

For a complete list of videos, visit our video library