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The possible combinations of goods that can be purchased with a specific income are called the

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The possible combinations of goods that can be purchased with a specific income are called the

Question 1.

Observations of violations of consumer optimum predicted by consumer choice theory could provide support for

I.	utility analysis

II.	bounded rationality

III.	behavioral economics

• I only.

• III only.

• both I and II.

• both II and III.

Question 2.

The possible combinations of goods that can be purchased with a specific income are called the

• indifference map.

• budget constraint.

• marginal rate of substitution.

• income-consumption curve.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 39 times

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