Which of the Following Statements Is FALSE

question 96

Multiple Choice

Which of the following statements is FALSE?

• A) A consumer has only one indifference curve.
• B) A consumer possesses a preference map.
• C) An indifference curve is a curve that shows the combination of goods among which a consumer is indifferent.
• D) The marginal rate of substitution is equal to the magnitude of the slope of the indifference curve.
• E) Diminishing marginal rate of substitution means that the marginal rate of substitution decreases as more of the good is consumed.

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Definitions:

Nonwrongfully Dissociates

The process by which a partner departs from a partnership according to the terms of the partnership agreement or without violating any legal obligations.

Liability

The state of being legally responsible for something, especially in terms of owing money or being obligated to provide compensation for damage or injury.

Creditors

People or organizations that are creditors to whom debtors or borrowers owe money.

Novation

The replacement of an original contract with a new one, where a new party takes over the rights and duties of the original party, with the consent of all parties involved.