Homework Answers
Ans: Statement is true
Explanation:
Two indifference curve can not intersect each other. It can be explained by the following diagram. In the figure, two indifference curve are cutting each other at point E. Now take point F on indifference curve IC2 and point G on indifference curve IC1. As we know an indifference curve represents those combination of two goods which gives equal satisfaction to the consumer. Now the combination E and F gives equal satisfaction because both the point lie on the same indifference curve IC2. Likewise the combination E and G gives equal satisfaction because both the point lie on the same indifference curve IC1. It is cleared from the diagram that combination F contains more of good Y as compared to combination G . As a result , the consumer will prefer combination F than G because combination F gives more satisfaction than combination G. So two indifference curve can not intersect each other.
5 IC
Add Answer to:
Problem 9. Two indifference curves cannot intersect each other. Is this a TRUE or FALSE statement?...
Indifference Curves and the Budget Constraints: True, False, Uncertain or Not enough information: A given budget...
Indifference Curves and the Budget Constraints: True, False, Uncertain or Not enough information: A given budget constraint has only one indifference curve that is tangent for a specific set of prices however, there may be numerous indifference curves that intersect the same budget constraint. Explain in terms of relative prices, opportunity cost and marginal rate of substitution.
Which statement is true or false: a. The principle that "More is better" results in indifference...
Which statement is true or false:
a. The principle that "More is better" results in indifference curves reflecting greater preferences the further they are from the origin. b. If two goods are perfect substitutes, then the indifference curves for those two goods would be upward sloping and straight.
)For each of the following statements, determine whether it is true or false? Briefly explain. (24...
)For each of the following statements, determine whether it is true or false? Briefly explain. (24 pts (a) If a con b) Assumin s preferences are transitive then they must be complete as well. False. sumer' g there are only two goods, if one good is a bad and the other is a good, then the indifference curves are upward sloping. c) can intersect only if the goods are perfect complements. Indifference curves ) If two utility functions u(-) and...
True, False, Uncertain or Not enough information: A given budget constraint has only one indifference curve...
True, False, Uncertain or Not enough information: A given budget constraint has only one indifference curve that is tangent for a specific set of prices. However, there may be numerous indifference curves that intersect the same budget constraint. Explain in terms of relative prices, opportunity costs and the marginal rate of substitution.
3. Indifference curves are convex (bowed in), because: a.) they are not allowed to intersect one...
3. Indifference curves are convex (bowed in), because: a.) they are not allowed to intersect one another b.) the consumption of an additional unit of a good generates a smaller increase in total utility than the previous unit consumed c.) each indifference curve represents a constant level of utility d.) they are downward sloping
1. Give the main reason why two indifference curves can never intersect! 2. Why does a...
1. Give the main reason why two indifference curves can never intersect! 2. Why does a higher indifference curve (further right) represents a higher level of utility? 3. Describe a scenario of your own choice where the substitution effect of a price increase will have the same sign (positive or negative) than the income effect! 4. For a price decrease related to a Giffen goods, describe the signs of both the substitution effect as well as the income effect.
The following graph displays four demand curves (LL, MM, NN, and 00) that intersect at point A.
The following graph displays four demand curves (LL, MM, NN, and 00) that intersect at point A. Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Curve NN is more elastic between points A and D than curve MM is between points A and C. Between points A and E, curve 00 is perfectly elastic. Between points A and D, curve NN is inelastic
Problem 13 (9 point) Circle your answer for the following statement (True or False). If it...
Problem 13 (9 point) Circle your answer for the following statement (True or False). If it is true, explain why. If it is false, explain why or give an example that disproves the statement. To get a mark, you need to give an explanatio. (a) If f(t) is continuous on (a,b], then f(x) + f(t) -dx < 2 Answer: True False 1 sca) de (b) [sec(z) tan(x) dx = sec(x)ys = sec(7) – sec(7/3) = -1- 2 = -3 Answer:...
Please solve the following question with proper steps .true or fa level curves of fx.y For 18-21circle true or false for each statement, False. True or The graph of y x in R is a cylinder 18. true...
Please solve the following question with proper steps
.true or fa
level curves of fx.y For 18-21circle true or false for each statement, False. True or The graph of y x in R is a cylinder 18. true false If a particle is moving along a space curve at constant speed, then a must be o 19. true false 20. true false If C is closed, thenF dr must be 0 I. true false A circle has constant curvature. 15...
The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A.
5. The variety of demand curves The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A.Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement Between points A and B, curve LL is unit elastic. Curve MM is more elastic between points A and C than curve NN is between points A and D. Between points A and D, curve NN is inelastic.
Which statement is true or false:
a. The principle that "More is better" results in indifference curves reflecting greater preferences the further they are from the origin. b. If two goods are perfect substitutes, then the indifference curves for those two goods would be upward sloping and straight.
)For each of the following statements, determine whether it is true or false? Briefly explain. (24 pts (a) If a con b) Assumin s preferences are transitive then they must be complete as well. False. sumer' g there are only two goods, if one good is a bad and the other is a good, then the indifference curves are upward sloping. c) can intersect only if the goods are perfect complements. Indifference curves ) If two utility functions u(-) and...
Problem 13 (9 point) Circle your answer for the following statement (True or False). If it is true, explain why. If it is false, explain why or give an example that disproves the statement. To get a mark, you need to give an explanatio. (a) If f(t) is continuous on (a,b], then f(x) + f(t) -dx < 2 Answer: True False 1 sca) de (b) [sec(z) tan(x) dx = sec(x)ys = sec(7) – sec(7/3) = -1- 2 = -3 Answer:...
Please solve the following question with proper steps
.true or fa
level curves of fx.y For 18-21circle true or false for each statement, False. True or The graph of y x in R is a cylinder 18. true false If a particle is moving along a space curve at constant speed, then a must be o 19. true false 20. true false If C is closed, thenF dr must be 0 I. true false A circle has constant curvature. 15...
Most questions answered within 3 hours.
-
How would you train your employees to avoid risks of using
mobile devices?
asked 2 minutes ago -
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 59 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 1 hour ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 3 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 3 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 6 hours ago