John will eat peanut butter and jelly sandwiches only when they are made with exactly two ounces of peanut butter and one ounce of jelly.If peanut butter is on the horizontal axis (PB) and jelly on the vertical axis (J) ,John's indifference curve for peanut butter and jelly is:
A) L-shaped,beginning at 2PB and 1J.
B) convex to the origin with a slope of -1/2.
C) a parallel straight line with a slope of -2.
D) concave to the origin with a slope of -2.
Correct Answer:
Verified
Q5: An economic "bad" is a commodity for
Q7: Which one of the following assumptions about
Q8: The assumption of nonsatiation of preferences states
Q9: The assumption of completeness of preferences states
Q12: Along an indifference curve,if the MRS of
Q14: An indifference curve shows _.
A)all the combinations
Q16: Suppose you have two indifference curves U1
Q17: A set of indifference curves showing that
Q18: Indifference curves consistent with one good being
Q19: At any point on an indifference curve,the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents