Which of the following statements is true?
A) Every point on a budget line lies on an indifference curve.
B) To determine a consumer's best affordable point, we need only the budget line or the indifference curve.
C) The price effect is shown by moving up or down a fixed budget line.
D) Both A and B are true.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true?
A) Every point on a budget line lies on an indifference curve.
B) To determine a consumer's best affordable point, we need only the budget line or the indifference curve.
C) The price effect is shown by moving up or down a fixed budget line.
D) Both A and B are true.

Which of the Following Statements Is True