Suppose You Have One Point on a Demand Curve

question 146

Multiple Choice

Suppose you have one point on a demand curve.To plot another point for this demand curve using a group of indifference curves,

• A) transfer all points from the indifference curve to the corresponding demand curve.
• B) horizontally sum the indifference curves.
• C) change the price of a good, rotate the budget line, and find the new best affordable point. This new price and quantity is another point on the demand curve.
• D) calculate the marginal rates of substitution from the indifference curve and transfer these values to the demand curve.
• E) transfer the budget line so that it becomes the demand curve.

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Definitions:

Armed Forces

Organized military units or services of a country, responsible for defending it against external and internal threats.

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The compulsory recruitment for military service, often conducted via a lottery to select individuals from a pool of eligible candidates.