
A consumer is said to be indifferent between two consumption bundles
A) when the consumer doesn't care about his or her consumption bundle.
B) when the two bundles provide equal amounts of utility.
C) when the consumer chooses the bundles equally often.
D) when the consumer is indecisive.
Correct Answer:
Verified
Q4: The utility function captures
A) how consumers interact.
B)
Q5: In the (consumption,leisure)space,indifference curves as we have
Q6: In the one-period model,what do we assume
Q7: The preferences of the representative consumer over
Q8: A static decision is one that
A) is
Q10: A dynamic decision is one that
A) is
Q11: The consumer wants to work because he/she
A)
Q12: It is useful to assume that there
Q13: The consumer's work-leisure choice problem focuses on
Q14: We assume that the representative consumer's preferences
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