Indifference Curves That Cross Would Suggest That

question 393

Multiple Choice

Indifference curves that cross would suggest that

• A)the consumer does not prefer more to less.
• B)the consumer is likely to prefer a redistribution of income from rich to poor.
• C)different individuals have different preferences for the same goods.
• D)the marginal rate of substitution is the same for both indifference curves.

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Definitions:

Book Balance

The balance in a company's accounting records for a particular account, which may differ from the actual cash balance until reconciled.

Purchasing Department

A division within a company responsible for acquiring goods and services needed for its operations.

Purchase Order

A document issued by a buyer to a seller, indicating the types, quantities, and agreed prices for products or services.

Vendor

A business or person that sells goods or services.