This topic contains a solution. Click here to go to the answer

Author Question: Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's ... (Read 122 times)

Yolanda

  • Hero Member
  • *****
  • Posts: 757
Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves
 
  A) are horizontal straight lines.
  B) are vertical straight lines.
  C) show decreasing utility as one moves upward.
  D) cannot be determined from the information given.

Question 2

Assuming that good x is measured on the x-axis and good y is measured on the y-axis, if the utility for the two goods x and y can be measured as U = y, then it can be concluded that
 
  A) x and y are perfect complements.
  B) x is a bad.
  C) the indifference curves on the x,y graph are upward sloping.
  D) the indifference curves on the x,y graph are horizontal.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lolol

  • Sr. Member
  • ****
  • Posts: 330
Answer to Question 1

B

Answer to Question 2

D




Yolanda

  • Member
  • Posts: 757
Reply 2 on: Jul 1, 2018
Excellent


pratush dev

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Gracias!

 

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

For a complete list of videos, visit our video library