Which of the Following Is Correct

question 287

Multiple Choice

Which of the following is correct?

• A)Budget lines are linear and upsloping; indifference curves are downsloping and concave to the origin.
• B)Budget lines are linear and downsloping; indifference curves are downsloping and concave to the origin.
• C)Budget lines are linear and downsloping; indifference curves are downsloping and convex to the origin.
• D)Budget lines are downsloping and convex to the origin; indifference curves are linear and downsloping.

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Definitions:

Units Sold

The total quantity of a product that is sold within a given period.

Per-Unit Tax

A tax applied to a product based on the quantity sold, rather than the value, often leading to a direct increase in the product's price.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or production of other goods.

Price Paid

Refers to the amount of money exchanged for a good or service at the time of the transaction.