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 35 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
Gracias!

miss_1456@hotmail.com

  • Member
  • Posts: 289
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

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
Historical Time Line of Regulatory Acts, Standards, and Organizations Historical Time Line of Regulatory Acts, Standards, and Organizations
The relationship between the height of the firing line and length of the spark line can be ... The relationship between the height of the firing line and length of the spark line can be ...
Fibromyalgia tender point sites. Fibromyalgia tender point sites.
. Calculate the net electric field at point B . Calculate the net electric field at point B
Find an equation of the tangent line to the graph of f(x) = sqrt(x) / (x+1) at the point x=1 Find an equation of the tangent line to the graph of f(x) = sqrt(x) / (x+1) at the point x=1
Video: Stroke volume - contractility definition

For a complete list of videos, visit our video library