This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Every point on a budget line has an indifference curve passing through it. Explain whether the ... (Read 64 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
on: Jun 29, 2018
Every point on a budget line has an indifference curve passing through it. Explain whether the previous statement is correct or not.
 
  What will be an ideal response?

Question 2

The above figure shows the marginal private benefit and marginal social cost of a college education. If students receive a 10,000 voucher
 
  A) no students will go to college.
  B) less than 10 million students will go to college.
  C) 10 million students will go to college.
  D) more than 10 million students will go to college.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

zacnyjessica

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is correct. The consumer has a preference map that consists of an infinite number of indifference curves, one through every possible consumption combination. So there is an indifference curve passing through every point on a budget line.

Answer to Question 2

D


RODY.ELKHALIL

  • Member
  • Posts: 591
Reply 2 on: Jun 29, 2018
:D TYSM

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Spectral Line Motion in Binary Star Systems Spectral Line Motion in Binary Star Systems
The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve. The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve.
Direct thumb pressure to a trigger point. Direct thumb pressure to a trigger point.
Classic Supply - Demand Curve Classic Supply - Demand Curve
The Frequency Distribution Curve of a Drug The Frequency Distribution Curve of a Drug
Constructing a Three-Point Recombination Map Constructing a Three-Point Recombination Map
Video: Heart Chambers

For a complete list of videos, visit our video library