Which of the following is not a necessary characteristic of an indifference curve?
A) Indifference curves slope downward.
B) Indifference curves are differentiable.
C) Indifference curves are convex.
D) Indifference curves of the same person cannot cross.
E) The negative of the slope of an indifference curve is the marginal rate of substitution.
Correct Answer:
Verified
Q7: Which of the following is true about
Q8: What is Mark's marginal utility of consumption,
Q9: A decrease in an individual's wage causes
Q10: A decrease in an individual's wealth causes
Q11: If Sarah works 8 hours a day,what
Q13: As wealth increases,demand for a good decreases.This
Q14: What is Mark's baseline utility?
A) 42 utils
B)
Q15: Which of the following does not limit
Q16: If an individual's wage increases,it is theoretically
Q17: What is Mark's marginal utility of leisure,
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