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Author Question: In the above figure, point B A) is superior to point A. B) is inferior to point A. C) is as ... (Read 111 times)

leilurhhh

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on: Jun 29, 2018
In the above figure, point B
 
  A) is superior to point A.
  B) is inferior to point A.
  C) is as good as point A.
  D) could be superior to, inferior to, or as good as point A but there is no way of telling which.

Question 2

If a consumer is consuming a combination of goods and services on his budget line, has the consumer allocated his or her entire budget?
 
  What will be an ideal response?


mfedorka

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Yes, the consumer has allocated his or her entire budget because the consumer is spending his or her entire budget.


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