The limit to consumption is caused by:
A) the budget constraint
B) the indifference curve
C) the Law of Diminishing Marginal Utility
D) convexity of the indifference curve
Correct Answer:
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Q18: If TU is increasing, then MU is:
A)
Q19: A person who has eaten so much
Q20: The marginal rate of substitution is the
Q21: Convexity of the indifference curve is due
Q22: Convex indifference curves suggest that:
A) consumers prefer
Q24: Consumer choices depend on:
A) preferences
B) relative prices
C)
Q25: If the budget constraint is given by
Q26: If the budget constraint is given by
Q27: The opportunity set:
A) the collection of all
Q28: An equilibrium is:
A) a point where all
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