An Indifference Map Implies That

question 8

Multiple Choice

An indifference map implies that

• A)money income is constant, but the prices of the two products vary directly with the quantities purchased.
• B)the two products under consideration are perfectly substitutable for one another.
• C)a consumer is better off to be at some point high on a given curve as opposed to a point low on the same curve.
• D)curves farther from the origin yield higher levels of total utility.

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Definitions:

Consciousness

Awareness, full knowledge of what is in one’s own mind.

Chronic

Continuing a long time, recurring; not acute.

Emergency Preparedness

Actions taken in anticipation of an emergency to facilitate rapid, effective, and appropriate response to the situation.

Exhaustion

Extreme fatigue.