As Long as a Consumer Remains on the Same Indifference

question 59

Multiple Choice

As long as a consumer remains on the same indifference curve

• A)she is indifferent to all points which lie on any other indifference curve.
• B)her preferences will not affect the marginal rate of substitution.
• C)she is unable to decide which bundle of goods to choose.
• D)she is indifferent among the points on that curve.

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Definitions:

Political Logrolling

Engaging in the mutual exchange of support, especially within politics, by voting for each other's legislative proposals.

Special-Interest Effect

The impact upon policy or decision-making driven by a small, motivated group seeking to further their own interests.

Price Supports

Government interventions to maintain the market price of a commodity or product above its competitive equilibrium level by buying up surplus supply or subsidizing the production costs.

Agriculture

Agriculture pertains to the science, art, and practice of cultivating plants and livestock, providing the basis for food production and raw materials for various industries.