-Refer to Figure 10.1.Suppose the individual is initially at point b.Based on the figure,the individual is relatively ______ and will ultimately move to point _____.
A) Impatient; c
B) Impatient; b
C) Patient; c
D) Patient; b

Question

-Refer to Figure 10.1.Suppose the individual is initially at point b.Based on the figure,the individual is relatively ______ and will ultimately move to point _____.
A) Impatient; c 
B) Impatient; b 
C) Patient; c 
D) Patient; b

Quizplus · Accepted Answer

CThe individual is initially at point b, which indicates a preference for current consumption over future consumption, suggesting impatience. Therefore, they will move to point c to increase their current consumption, consistent with an impatient behavior. Additionally, the move to point c could also be seen as a strategic choice for someone who is patient, understanding that investing or consuming in a way that leads to point c maximizes their overall utility or future gains, thus both A and C can be considered correct based on different interpretations of the scenario.