That Indifference Curves Are Downward Sloping

question 49

Multiple Choice

That indifference curves are downward sloping

• A) is not true.
• B) follows from the fact that more is preferred to less.
• C) follows from the property that the consumer likes diversity in his or her consumption bundle.
• D) follows from the property that consumption and leisure are normal goods.
• E) follows from the fact that there is a direct relationship between consumption and leisure bundles.

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Definitions:

Industrial Grinder

A machine tool used in manufacturing for grinding, which is a process of removing material using abrasion.

Preventive Maintenance

Routine maintenance and servicing of equipment to prevent unexpected breakdowns and failures.

Useful Life

The estimated duration a fixed asset is expected to be economically usable, with normal maintenance, for the purpose it was acquired or constructed.

Economic Value

The measurement of the benefit provided by a good or service to an economic agent.