« previous next »

Author Question: Explain why indifference curves have the following properties: (a) downward slope (b) convex to the ... (Read 72 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
Explain why indifference curves have the following properties: (a) downward slope (b) convex to the origin (c) higher curves reflect higher utility (d) non-intersecting
 
  What will be an ideal response?

Question 2

________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pre-group levels.
 
  A) Trade creation
  B) Trade diversion
  C) Trade exclusion
  D) Trade distortion


mariahkathleeen

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

(a) Compensation required for the loss of any one good from the bundle
(b) Bundles with balanced quantities are preferred
(c) More is preferred to less
(d) Maintenance of transitivity of preferences

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s The north-facing slope at this site supports a Mediterranean woodland, while the vegetation on the s
Liquid Water Properties compared with n-pentane, nonpolar, non-hydrogen bonding liquid Liquid Water Properties compared with n-pentane, nonpolar, non-hydrogen bonding liquid
Modified Amino acids with unique properties Modified Amino acids with unique properties
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Please fully explain the answer with steps Please fully explain the answer with steps
Wavelike properties of sound Wavelike properties of sound
Video: Chloroplast Structure & Light Dependent Reactions (Photosystem 1 and 2 Cyclic Electron Flow)

For a complete list of videos, visit our video library