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Veronica and Wes were married. They worked out a routine which they used to steal cars. Veronica went to the car dealership and took a test drive in the car they planned to steal and carefully noted where the keys were kept and the layout of the display lots and exits. When she came home, they went out to eat and discussed what she had seen. On the following day, she went back to the dealership and flirted with a salesman while Wes obtained the keys and drove the car off the lot. Veronica and Wes were arrested after they had stolen several cars. Veronica filed for divorce a day before trial because she discovered Wes was having an affair with Yvonne. Wes immediately made a plea bargain with the prosecutor that gave him probation in exchange for testifying against Veronica. Can Veronica prevent Wes from testifying about their conversations based on the Husband-Wife Privilege for Confidential Communications?
Utility Function
A utility function is a mathematical representation of a consumer’s preferences, ranking different bundles of goods according to levels of satisfaction.
Indifference Curve
A graph showing different bundles of goods between which a consumer is indifferent, meaning they would derive the same level of satisfaction from any combination.
Bliss Point
The optimal quantity of consumption where any further increase or decrease would lead to a lower level of satisfaction for the consumer.
Indifference Curves
Graphical representations in microeconomics to illustrate different combinations of goods between which a consumer is indifferent.
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