Use the Following to Answer Questions

question 90

Multiple Choice

Use the following to answer questions:
Figure: Optimal Choice 2
-(Figure: Optimal Choice 2) Refer to the figure. This figure represents indifference curves of a consumer who purchases flip-flops and sneakers. If the dotted line represents this consumer's budget constraint, then bundle D on the graph:

• A) results in a lower level of overall utility than bundle E.
• B) is preferred to point E but is unattainable.
• C) has a higher marginal rate of substitution than bundle E.
• D) maximizes total utility.

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Definitions:

Special Verdict

A detailed verdict where the jury makes specific findings on each issue of fact, leaving the application of the law to those facts to the judge.

General Verdict

A jury's decision in a trial that includes both findings of fact and the application of those facts to the law to reach a decision.

Voir Dire

A process in court where jurors are questioned by judges and lawyers to determine if they are suitable for jury service.

Arbitration

A method of dispute resolution outside of courts where an arbitrator makes a decision which is binding to both parties.