A Consumer Likes Two Goods: Pizza and Beer

question 226

Multiple Choice

A consumer likes two goods: pizza and beer.The four bundles shown in the table below lie on the same indifference curve for the consumer. Which of the following statements regarding these bundles is correct?

• A) The goods are perfect substitutes for this consumer.
• B) The goods are perfect complements for this consumer.
• C) These bundles illustrate the property that indifference curves are bowed inward.
• D) These bundles violate the property that indifference curves do not cross.

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Definitions:

Failure To Thrive

An observed condition in children marked by insufficient physical growth or the inability to gain weight.

Low-Income Families

Households that earn significantly less than the average income, often leading to limited access to resources and opportunities.

High-Income Families

Households with a financial income significantly above the average for a given society.

Millennial

A person born between the early 1980s and late 1990s; also refers to the generation with birth years in this range.