Author Question: Homogeneous goods are ________. A) perfect complements B) perfect substitutes C) similar but ... (Read 117 times)

itsmyluck · **on:** Jun 29, 2018

Homogeneous goods are ________.

A) perfect complements
B) perfect substitutes
C) similar but not identical
D) always inferior

Question 2

Refer to the figure above. In comparison to the bundles on IC1, the bundles on IC3:

A) give the same level of utility and are affordable.
B) give the same level of utility but are not affordable.
C) give a higher level of utility and are affordable.
D) give a higher level of utility but are not affordable.