« previous next »

Author Question: Explain why indifference curves have the following properties: (a) downward slope (b) convex to the ... (Read 131 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?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Structures and properties of pigment molecules Structures and properties of pigment molecules
Slope Streaks in Acheron Fossae Slope Streaks in Acheron Fossae
The Rotation Curves of Four Spiral Galaxies The Rotation Curves of Four Spiral Galaxies
The Nature and Properties of Soils, 15th Edition Cover The Nature and Properties of Soils, 15th Edition Cover
Please explain the different Rf values for xanthophyll’s in paper chromatography compared to ... Please explain the different Rf values for xanthophyll’s in paper chromatography compared to ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Proteins Defined, Hierarchy & Composition of Cells

For a complete list of videos, visit our video library