t is the property of indifference curve that no two ICs can intersect each other because: a. same combination of two goods cannot give different level of satisfaction. b. of diminishing MRS. c. consumer preferences are transitive. d. MRS will not equal with MRT.
t is the property of indifference curve that no two ICs can intersect each other because: a. same combination of two goods cannot give different level of satisfaction. b. of diminishing MRS. c. consumer preferences are transitive. d. MRS will not equal with MRT.
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 2CQQ
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It is the property of indifference curve that no two ICs can intersect each other because:
a. same combination of two goods cannot give different level of satisfaction.
b. of diminishing MRS.
c. consumer preferences are transitive.
d. MRS will not equal with MRT.
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