WebTherefore, line OB and curve JK cannot be indifference curves. Similarly, in the case of a vertical indifference line, aQx, and the movement from e to a means an increase in the quantity of Y by ea, while quantity of X remains the same, OQx. If MU of ea>0, the total utility will increase. ... The straight line joining the two points A and B is ... Web91. A consumer’s preferences for right shoes and left shoes can be represented by indifference curves that are a.bowed out from the origin b.bowed in toward the origin c.straight lines d.right angles 92. When two goods are perfect complements, the indifference curves will a.have a positive slope. b.be right angles.
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WebExpert Answer. Transcribed image text: If a person's indifference curves can be represented as a straight line, the person views the goods as A. perfect complements … WebDec 29, 2024 · Marginal rate of substitution (MRS) the the willingness of a consumer toward replace one good for another, as long as to new great is also satisfying. can fleas reproduce by themselves
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WebIndifference curves for an economic goods-are nonintersecting -are contour lines of a utility function ... If a person's indifference curves can be represented as a straight … WebIncome leads to a shift of the line, but same slope-With change in price, the slope changes-Preferences-Indifference curves show various bundles in which the consumer is equally happy, indifferent-The slope at any point it the rate at which the consumer is willing to substitute one good for the other, this is the marginal rate of substitution ... WebEach point on the indifference curve indicates that the consumer is unconcerned about the two, and all of them have the same utility. Is it possible for an indifference curve to be a straight line? Yes, if both goods are perfect substitutes, that is, both goods provide the same level of satisfaction, the difference curve can be a straight line. can fleas on a cat make them sick