There Are 3 Goods

question 20

True/False

There are 3 goods.The price of good 1 is -1, the price of good 2 is +1, and the price of good 3 is +2.It is physically possible for a consumer to consume any commodity bundle with nonnegative amounts of each good.A consumer who has an income of 10 could afford to consume some commodity bundles that include 5 units of good 1 and 6 units of good 2.

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Definitions:

Authorized Indorsements

Pertains to the legally approved signatures or endorsements on documents, especially checks or negotiable instruments, that authorize their use or transfer.

Illegality

The state or condition of being contrary to the law or violating legal norms or provisions.

Obligation

A legal or moral duty to do or not do something, often arising from contracts, law, or personal commitments.

Instrument Void

A legal term indicating that a document, typically a contractual agreement, is null and has no legal effect.