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Indifference Curve Constant Quiz

The curve that is traced out when we keep indifference curves constant and move the budget line parallel to its original position is

If the income and substitution effects of a price increase work in the same direction the good whose price has changed is a

Indifference curves cannot

Profit-maximising firms want to maximize the difference between

Which of the following is most likely to be a variable cost for a firm?

The curve that is traced out when we keep indifference curves constant and swivel the budget line at the Y-intercept to reflect a change the price of good X, is

If the price (or budget) line has a slope of -2 and it cuts indifference curve ICa at points P and R (given that the slope of ICa at point P is -4 and at point R is -1), the consumer can maximize utility by

The main problem with marginal utility analysis is

Which statement is FALSE?

Equilibrium in the market for good A obtains

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