If an individual's indifference curve map does not obey the assumption of a diminishing MRS, then
a. the individual will not maximize utility.
b. the individual will buy none of good X.
c. tangencies of indifference curves to the budget constraint may not be points of utility maximization.
d. the budget constraint cannot be tangent to an appropriate indifference curve.
Question 2
In profit centers
a. Managers are difficult to evaluate because there is no simple metric of how well they performed
b. Managers typically do not have the information to run their division efficiently
c. Managers' decisions can affect other divisions
d. Managers typically do not have the incentives to run their division efficiently
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