Assume That Good X and Good Y Each Have Diminishing

question 429

Multiple Choice

Assume that good X and good Y each have diminishing marginal utility for a consumer. In this case,

• A) an indifference curve linking the two goods will have a constant slope.
• B) an indifference curve will be convex to the origin.
• C) the demand curves for these goods will be positively sloped.
• D) the demand curves for these goods will be horizontal.

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Definitions:

Direct Commands

Instructions or orders given clearly and authoritatively, requiring immediate compliance or action.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, pressures, or expectations.

Social Pressure

The influence exerted by a society or a social group on individuals to conform to expected norms, behaviors, or attitudes.

Negative Reinforcement

Negative Reinforcement is a psychological principle where the removal or avoidance of an undesirable outcome strengthens a behavior.