Consumer Equilibrium Occurs At

question 148

Multiple Choice

Consumer equilibrium occurs at:

• A) the point where the indifference curve crosses the budget line from below.
• B) any point of intersection between an indifference curve and the budget line.
• C) the midpoint of every indifference curve.
• D) the point of tangency between an indifference curve and the budget line.

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Definitions:

Uncertified Check

An uncertified check is a personal or business check that has not been verified or guaranteed by the bank upon which it is drawn, as opposed to a certified check.

Good Faith

A principle that denotes honesty or sincerity of intention in the fulfillment of one's duties and agreements.

Breach Of Contract

A violation of any agreed-upon terms and conditions in a binding contract.

Cashier's Check

A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.