Business, 04.07.2020 02:01 Saberabuomar2007
Assume Luis spends his entire income on X and Y, and his indifference curves have the usual convex shape. If Luis maximizes his utility, then:
a. there are other bundles that are preferred at the current price ratio.
b. the slope of his indifference curve is smaller than the slope of his budget line.
c. he spends his entire available income.
d. the slope of his indifference curve is greater than the slope of his budget line.
Answers: 3
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Assume Luis spends his entire income on X and Y, and his indifference curves have the usual convex s...
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