question archive Which of the following statements is/are correct? a) If a consumer is deciding about the level of consumption of two goods, chocolate (a bad) and apples (a good), the indifference curve will be downward sloping as usual
Which of the following statements is/are correct? a) If a consumer is deciding about the level of consumption of two goods, chocolate (a bad) and apples (a good), the indifference curve will be downward sloping as usual
Subject:EconomicsPrice: Bought3
Which of the following statements is/are correct?
a) If a consumer is deciding about the level of consumption of two goods, chocolate (a bad) and apples (a good), the indifference curve will be downward sloping as usual.
b) A worker changes their preferences between free time and consumption as they get older. Their indifference curves in their 20s can intersect the indifference curves in their 50s.
c) If indifference curves are L-shaped the two goods on the X- and Y- axis are perfect substitutes.
