A Consumer

question 78

Multiple Choice

A consumer

• A)is equally satisfied with any indifference curve.
• B)prefers indifference curves with positive slopes.
• C)prefers higher indifference curves to lower indifference curves.
• D)prefers indifference curves that are straight lines to indifference curves that are right angles.

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Definitions:

Conforming Goods

Products that meet the specifications and requirements set forth in a contract of sale.

Obligated

Being legally or morally bound to do something.

Perfect Tender Rule

A legal principle requiring sellers to deliver goods that exactly meet the terms and specifications of the contract.

Performance

The act of fulfilling a duty, contract, or obligation as required or agreed.