Top Posters
Since Sunday
6
w
4
c
4
r
4
m
3
m
3
u
3
m
3
e
3
k
3
N
3
y
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Ingy_ Ingy_
wrote...
Go to Answer
Posts: 514
Rep: 15 0
5 years ago

Question 1.

Which of the following is held constant along an indifference curve?



▸

the prices of the goods in question



▸

the marginal utility derived from consuming any bundle of goods on the indifference curve



▸

the marginal rate of substitution between the two goods in question



▸

the total utility derived from consuming any bundle of goods on the indifference curve



Question 2.

In the utility maximizing model, consumer preferences are assumed to be transitive. What does this mean?



▸

that consumers go through cycles in their consumption behavior



▸

that consumers prefer more of a good to less



▸

that consumers have preferences that are relatively consistent in the time period under consideration



▸

that consumers have the freedom to change their preferences from time to time

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
Read 129 times
1 Reply
Replies
Answer verified by a subject expert
cooldawg69cooldawg69
wrote...
#1
Posts: 375
Rep: 47 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Ingy_ Author
wrote...

5 years ago
Thanks for your help!!
aznzergs
wrote...

Yesterday
Thanks
Fleury
wrote...

2 hours ago
You make an excellent tutor!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  591 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 615
  
 61
  
 95
Your Opinion
What's your favorite funny biology word?
Votes: 401
Previous poll results: Do you believe in global warming?