At the Optimum

question 53

Multiple Choice

At the optimum:

• A)the slope of the indifference curve is equal to the slope of the budget constraint
• B)it is still possible for the consumer to increase his consumption of both goods
• C)the indifference curve would intersect the budget constraint at its centre
• D)the budget constraint would have a slope of 1

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Definitions:

Extraverted People

Individuals characterized by outgoingness, high levels of sociability, energy, and a tendency to seek stimulation in the company of others.

Agreeable

An attribute of one's character marked by a friendly disposition, benevolence, and an eagerness to collaborate and maintain harmonious relationships with people.

Continuums

A continuous sequence in which adjacent elements are not perceptibly different from each other, although the extremes are quite distinct.

Big Five

A model describing human personality through five broad domains: openness, conscientiousness, extraversion, agreeableness, and neuroticism.