Exhibit 21-6 -Refer to Exhibit 21-6.I 1 ,I 2 and I 3 are indifference curves and line ab is the relevant budget constraint.Point N is

Point N is attainable because it lies on or below the budget constraint line ab, but it does not exhaust the consumer's income as it is not on the budget line itself.

Exhibit 21-6 -Refer to Exhibit 21-6.I 1 ,I 2 and I 3 are indifference curves and line ab is the relevant budget constraint.Point N is

Point N is attainable because it lies on or below the budget constraint line ab, but it does not exhaust the consumer's income as it is not on the budget line itself.

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Exhibit 21-6 -Refer to Exhibit 21-6.I₁,I₂and I₃ Are Indifference Curves and Line

Question 127

Multiple Choice

Exhibit 21-6
Exhibit 21-6 -Refer to Exhibit 21-6.I<sub>1</sub>,I<sub>2</sub>and I<sub>3</sub> are indifference curves and line ab is the relevant budget constraint.Point N is A) the consumer's equilibrium position. B) unattainable. C) inferior to every other labeled point on the diagram. D) attainable, but does not exhaust the consumer's income.
-Refer to Exhibit 21-6.I₁,I₂and I₃ are indifference curves and line ab is the relevant budget constraint.Point N is

A) the consumer's equilibrium position.
B) unattainable.
C) inferior to every other labeled point on the diagram.
D) attainable, but does not exhaust the consumer's income.

Correct Answer: