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Author Question: Every point on a demand curve represents a consumer equilibrium in the indifference curve model. ... (Read 452 times)

Alygatorr01285

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on: Jun 29, 2018
Every point on a demand curve represents a consumer equilibrium in the indifference curve model. Explain why the previous statement is correct or not.
 
  What will be an ideal response?

Question 2

The above figure shows the marginal benefits and marginal costs of a college education. If a voucher for 5,000 is given to the students, then colleges charge tuition of
 
  A) 0.
  B) 5,000.
  C) 10,000.
  D) 15,000.


anoriega3

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is correct. The demand curve is derived using the indifference curve/budget line diagram. Hence every point on the demand curve is the result of a consumer equilibrium in the indifference curve/budget line diagram.

Answer to Question 2

C


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