ECN 104 Chapter 21: Chapter 21
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21 Apr 2011
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Related Questions
At the consumer's optimum:
a. |
the indifference curve will intersect the budget constraint at the midpoint of the budget constraint. |
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b. |
it is still possible for the consumer to increase his consumption of both goods. |
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c. |
the budget constraint will have a slope of MUx/Px. |
|
d. |
the slope of the indifference curve is equal to the slope of the budget constraint. |