Author Question: Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's ... (Read 120 times)

Yolanda · **on:** Jul 1, 2018

Clifford lives by the motto Eat, drink and be merry today, for tomorrow doesn't matter. If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves

A) are horizontal straight lines.
B) are vertical straight lines.
C) show decreasing utility as one moves upward.
D) cannot be determined from the information given.

Question 2

Assuming that good x is measured on the x-axis and good y is measured on the y-axis, if the utility for the two goods x and y can be measured as U = y, then it can be concluded that

A) x and y are perfect complements.
B) x is a bad.
C) the indifference curves on the x,y graph are upward sloping.
D) the indifference curves on the x,y graph are horizontal.