The budget line is downward sloping,reflecting the fact that you must give up some of one good to get more of the other.
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Q24: Total utility:
A) generally diminishes as consumption of
Q25: The law of diminishing marginal utility states
Q26: Higher indifference curves represent lesser satisfaction.
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Q30: If two commodities are perfect complements,the indifference
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Q33: Reduction in quantity demanded of a good
Q34: To maximize satisfaction,the consumer must reach the
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