If Two Combinations of Goods X and Y Give a Consumer

question 290

Multiple Choice

If two combinations of goods X and Y give a consumer equal satisfaction, then these two combinations must both be on the same

• A)budget line.
• B)indifference curve.
• C)demand curve.
• D)supply curve.

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Definitions:

Ethical Behavior

The conduct that is consistent with what society, groups, or individuals deem to be correct moral principles.

Future Favors

The expectation or arrangement of receiving help, support, or advantage at a later time, as a return for one's current action or service.

American Concept

Refers to ideals and values commonly associated with the United States, such as freedom, democracy, and individualism.

Principle of Utilitarianism

A moral principle that proposes the optimal action is the one that enhances overall happiness, commonly understood as the action that results in the highest level of well-being for the largest group of individuals.