Exhibit 6A-2 Consumer Equilibrium

question 4

Multiple Choice

Exhibit 6A-2 Consumer Equilibrium
​

Given the budget lines and indifference curves shown in Exhibit 6A-2, point B yields:

• A) more total utility than point F.
• B) more total utility than points A and C.
• C) less total utility than point F.
• D) equal total utility to point F.

Learn the significance of adapting or persevering in response to experimental outcomes.

Grasp the concept of low-cost, rapid experimentation for validation of business ideas.

Appreciate the value of validations and learning from prototypes and minimum viable products.

Understand the role of storyboarding and sketches in visualizing and communicating business plans and concepts.

---

Definitions:

English Auction

A type of auction where bidders publicly submit higher and higher bids, with the highest bidder winning the item.

Rational Self-Interest

The principle that individuals will make decisions that benefit themselves, assuming they have all necessary information and make rational choices.

Values

Fundamental beliefs or standards of an individual or society guiding behavior and decision-making.

Sold

The process whereby an item, service, or asset is exchanged for money or other consideration, resulting in a transfer of ownership.