« previous next »

Author Question: Define the following terms: a) Indifference curve b) Utility[br][br][b][color=#347235]Question ... (Read 25 times)

Caiter2013

  • Hero Member
  • *****
  • Posts: 607
on: Jun 29, 2018
Define the following terms:
 
  a) Indifference curve
  b) Utility

Question 2

Which of the following markets is an example of an oligopoly?
 
  A) The market for premium apparels
  B) The market for books
  C) The market for video games
  D) The market for wheat


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 29, 2018
Answer to Question 1

a) An indifference curve is a graph that shows all bundles of goods and services that provide an equal level of satisfaction for the consumer.
b) Utility refers to a measure of satisfaction or happiness that a consumer receives from consuming a good or service.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Inheritance of Coat Color in Rabbits Inheritance of Coat Color in Rabbits
Generally, the total tax burden in the United States is much lower than that of other industrialize Generally, the total tax burden in the United States is much lower than that of other industrialize
Trichromatic Theory of Color Vision Trichromatic Theory of Color Vision
Question Question
this is a math question this is a math question
this is a math question this is a math question
Video: Status Epilepticus

For a complete list of videos, visit our video library