-The Indifference Curves in the Figure Above (I₁, I₂ and I₃)

question 106

Multiple Choice

-The indifference curves in the figure above (I₁, I₂ and I₃) reflect Peter's consumption preferences. Peter prefers consuming _______ to consuming _______.

• A) 32 slices of pizza and 8 chocolate bars; 16 slices of pizza and 16 chocolate bars
• B) 24 slices of pizza and 24 chocolate bars; 40 slices of pizza and 20 chocolate bars
• C) 48 slices of pizza and 12 chocolate bars; 24 slices of pizza and 24 chocolate bars
• D) 40 slices of pizza and 20 chocolate bars; 48 slices of pizza and 12 chocolate bars

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Definitions:

Commission Rate

The percentage or fixed payment associated with a transaction or sale that is given to the intermediary or salesperson.

Commission Rate

The percentage of a sale price that is paid to the salesperson as a reward for making the sale or dealing.

Freight

Goods transported in bulk by truck, train, ship, or airplane.

Net Proceeds

The amount of money received from a transaction after all costs and expenses have been paid.