Author Question: Indifference curves are drawn on a diagram with the A) price of a good on the vertical axis and ... (Read 147 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
Indifference curves are drawn on a diagram with the
 
  A) price of a good on the vertical axis and its quantity on the horizontal axis.
  B) price of one good on the vertical axis and the price of another good on the horizontal axis.
  C) quantity of a good on the vertical axis and its price on the horizontal axis.
  D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.

Question 2

Which of the following is NOT an assumption of marginal utility theory?
 
  A) People derive utility from their consumption.
  B) More consumption yields more total utility.
  C) Marginal utility diminishes with more consumption.
  D) Utility can be measured and the units of utility are precisely defined.



ghepp

  • Sr. Member
  • ****
  • Posts: 361
Answer to Question 1

D

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

For a complete list of videos, visit our video library