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Question(s) / Instruction(s):

An indifference curve may

  1. Slope upward
  2. Cross another one
  3. Not slope upward
  4. Be quite thick

 

the marginal rate of substitution between two goods is decreasing as long as the

  1. indifference curve is bowed toward the origin
  2. indifference curve is bowed away from the origin
  3. indifference curve is a downward sloping line
  4. space between indifference curves is widening.

 

when deriving demand for good X, what is held constant

  1. Income, preferences and the price of the other good (Y)
  2. Income, but neither preferences nor the price of the other good (Y)
  3. Income and preferences but not the price of the other good (Y)
  4. Income and the price of the other good (Y), but not preferences

 

The Engle curve maps

  1. The levels of two goods that would be purchased when one of their prices changes.
  2. The levels of two goods that would be purchased when income changes
  3. Income and the quantity of one of the goods

 

 

 

 

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