If a Consumer Does Not Have Convex Preferences, Then a Point

question 13

True/False

If a consumer does not have convex preferences, then a point of tangency between her indifference curve and her budget line must be an optimal consumption point.

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Definitions:

Oil Pollution

The contamination of oceans, rivers, and soils by crude or refined oil products, which can be harmful to wildlife, disrupt ecosystems, and pose risks to human health.

Double Hulls

A ship design feature where the vessel's bottom and sides have two layers, improving buoyancy and reducing the risk of spills or sinking.

Ecologically Sensitive

An area that is identified as being sensitive to changes in environmental conditions, requiring protection or special management to sustain its biodiversity and ecological processes.

Nonpoint Source

Pollution that comes from many diffuse sources rather than a single, identifiable source, often affecting water quality.