If an Individual's Indifference Curve Map Does Not Obey the Assumption

question 10

Multiple Choice

If an individual's indifference curve map does not obey the assumption of a diminishing MRS,then

• A)the individual will not maximize utility.
• B)the individual will buy none of good X.
• C)tangencies of indifference curves to the budget constraint may not be points of utility maximization.
• D)the budget constraint cannot be tangent to an appropriate indifference curve.

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Definitions:

Wilhelm Wundt

A German physiologist and psychologist, recognized as one of the founders of modern psychology, and known for establishing the first psychology laboratory.

Psychology Textbook

An academic book specifically designed to provide comprehensive information on various topics within the field of psychology, including theories, research findings, and applications.

Wilhelm Wundt

Commonly recognized as the father of experimental psychology, he founded the first formal laboratory for psychological research in Leipzig, Germany, in 1879.

Ivan Pavlov

A Russian physiologist known for his work in classical conditioning, particularly his experiments with dogs that led to the discovery of the conditioned reflex.