Ambrose Has Indifference Curves with the Equation X₂ = Constant

question 28

Multiple Choice

Ambrose has indifference curves with the equation x₂ = constant -4x^1/2₁, where larger constants correspond to higher indifference curves.If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose's indifference curve when his consumption bundle is (4, 11) ?

• A)-4/11
• B)-11/4
• C)-1
• D)-13
• E)-2

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Definitions:

Indifference Curves

Graphical representations in microeconomics showing different combinations of goods or services between which a consumer is indifferent.

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulation of the milk protein casein.

Price Increase

A rise in the cost or value of goods and services, indicating inflationary trends in an economy.

Optimal Choice

The most efficient allocation of resources or decision making that maximizes benefit or utility for an individual or entity.