Suppose That a Consumer Has the Utility Function $\mathrm { U } = 5 \mathrm {~A} + 7 \mathrm {~B}$

question 86

Multiple Choice

Suppose that a consumer has the utility function $\mathrm { U } = 5 \mathrm {~A} + 7 \mathrm {~B}$ . If is measured on the horizontal axis, which of the following is correct?

• A) The indifference curves will be L-shaped.
• B) The indifference curves will be horizontal.
• C) The indifference curves will be straight lines with slope \(- 5 / 7\).
• D) The indifference curves will be straight lines with slope \(- 7 / 5\).

Understand the principles of price comparison and recognize misleading pricing strategies.

Distinguish between wants and needs to make informed purchasing decisions.

Recognize the different types of warranties and their implications.

Identify governmental and non-governmental consumer assistance programs.

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