Which of the Following Statements Is FALSE

question 85

Multiple Choice

Which of the following statements is FALSE?

• A)A consumer possesses a preference map.
• B)An indifference curve is a line that shows combinations of goods among which a consumer is indifferent.
• C)A consumer has only one indifference curve.
• D)The marginal rate of substitution is the rate at which a consumer will give up good y to get an additional unit of good x and remain on the same indifference curve.
• E)If the indifference curve is steep, the marginal rate of substitution is high.

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Definitions:

Simple Random Sampling

A statistical sampling technique in which each member of a population has an equal chance of being included in the sample.

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A platform that delivers content, such as music, movies, or television shows, over the internet, enabling users to access it on-demand.

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Individuals engaged in post-secondary education at colleges or universities.

Validity

The extent to which a concept, conclusion, or measurement is well-founded and likely corresponds accurately to the real world.