Solved

As Long as Indifference Curves Are Convex to the Origin

Question 28

Multiple Choice

As long as indifference curves are convex to the origin, utility maximisation will take place


A) where the budget constraint intersects the indifference curve.
B) where the consumer spends all of his income on one good.
C) where the consumer spends half of his income on each good.
D) at the point at which the indifference curve is just tangent to the budget constraint.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents