Refer to the diagram, where xy is the relevant budget line and I₁, I₂, and I₃ are indifference curves. The equilibrium position for the consumer is at
A)any point on xy.
B)point M.
C)point K.
D)point J.

Question

Refer to the diagram, where xy is the relevant budget line and I₁, I₂, and I₃ are indifference curves. The equilibrium position for the consumer is at
A)any point on xy. 
B)point M. 
C)point K. 
D)point J.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram, where xy is the relevant budget line and I₁, I₂, and I₃ are indifference curves. The equilibrium position for the consumer is at
A)any point on xy. 
B)point M. 
C)point K. 
D)point J.

Refer to the Diagram, Where Xy Is the Relevant Budget