« previous next »

Author Question: Which of the following statements is true about a consumer's optimal decision when indifference ... (Read 13 times)

clippers!

  • Hero Member
  • *****
  • Posts: 828
on: Jul 1, 2018
Which of the following statements is true about a consumer's optimal decision when indifference curves are concave?
 
  A) Both goods are consumed.
  B) No goods are consumed.
  C) Only one of the goods is consumed.
  D) It occurs at the point of tangency with the budget line.

Question 2

Refer to Figure 9.1. If the government establishes a price ceiling of 20, the resulting deadweight loss will be
 
  A) 0.
  B) 20.
  C) 30.
  D) 300.
  E) 600.


Amiracle

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

A true albino squirrel. Note the pink eyes. A true albino squirrel. Note the pink eyes.
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999 True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Examples of Mission Statements Examples of Mission Statements
How to convert verbal statements into algebraic equations (Part 1) How to convert verbal statements into algebraic equations (Part 1)
From Farm to Consumer From Farm to Consumer
True Dover Sole True Dover Sole
Video: Factors that increase metabolic rate and heat production

For a complete list of videos, visit our video library