ch11 - Name: _ Date: _ ch11 1. An indifference curve is a...

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Name: __________________________ Date: _____________ ch11 1. An indifference curve is a line that shows all the consumption bundles that: A) an individual can purchase with a given income. B) yield the same total utility for an individual. C) yield the same marginal utility. D) have the same marginal rate of substitution. Use the following to answer question 2: Figure and Table: Indifference Curve Map 2. (Figure and Table: Indifference Curve Map) Which of the following statements is true regarding the accompanying figure? A) Combination A is preferred to combination B. B) Combination B is preferred to combination D. C) Combination C is preferred to combination A. D) Combination B is preferred to combination C. Page 1
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3. Higher indifference curves represent: A) lesser levels of utility than lower curves. B) greater levels of utility than lower curves. C) the same levels of utility as lower curves. D)
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This note was uploaded on 03/15/2011 for the course ECON 101 taught by Professor Drwang during the Spring '11 term at National Taiwan University.

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ch11 - Name: _ Date: _ ch11 1. An indifference curve is a...

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