True or false? With a paragraph explanation For every conceivable combination of two goods exactly one...

True or false?

With a paragraph explanation

For every conceivable combination of two goods exactly one indifference curve passes through it.

Expert Solution

True

The indifference curve is a curve that shows different combinations of two goods that can be consumed by a consumer that gives him an equal level of satisfaction.

For a consumer, there is only one indifference curve that tells the optimal combination of two goods that he will be purchasing given the prices of the goods and the income of the consumer. We know that there are infinite indifference curves and each of them shows different levels of satisfaction or utility. Not every indifference curve is attainable as the consumer will choose the one that maximizes its utility. After choosing one indifference curve it has to choose a specific point on it which will show him the exact combination of the two goods that he will finally choose.

Now, to choose that point he will use the budget constraint and choose the point where the budget line is tangent to the indifference curve. That point is the consumer's equilibrium point.

Thus there is only one indifference curve that shows the believable combination fo two goods that the consumer will be choosing.

Rahul Sunny answered 2 years ago

Determine if the following statements are true or false: 1. There is exactly one two-digit number...

Determine if the following statements are true or false: 1. There is exactly one two-digit number (in the range from 10 through 99} that is congruent to 1 modulo 3, to 3 modulo 4, and to 3 modulo 5. 2. A minimum element for a partial order R on a set X is an element a such that for every element b, R(a, b) is true. If X is a nonempty finite set, then there must be exactly one minimum...

Exactly one of the following statements is true. Which one? Select one: a. Every convergent sequence...

Exactly one of the following statements is true. Which one? Select one: a. Every convergent sequence is monotonic. b. Every Cauchy sequence is monotonic. c. Every Cauchy sequence is bounded. d. None of the other statements is true. e. Every monotonic sequence converges

Answer true or false with a sentence or two explanation. 1. In order to construct a...

Answer true or false with a sentence or two explanation. 1. In order to construct a confidence interval estimate of the population mean, the value of the population mean is needed. 2. A confidence interval is an interval estimate for which there is a specified degree of certainty that the actual value of the population parameter will fall within the interval. 3. The larger the confidence level used in constructing a confidence interval estimate of the population mean, the narrower...

True or False. Please give an explanation as to why its true or false. Too much...

True or False. Please give an explanation as to why its true or false. Too much leverage on a company’s balance sheet will increase the company’s cost of equity/

True/false Every ratio tells us for every one of what’s on the top, here’s how many...

True/false Every ratio tells us for every one of what’s on the top, here’s how many we have of what’s on the bottom. True or False:Ceteris paribus, the cash coverage ratio and the rate of interest paid on debt are inversely related. True or False: An increase in the cash coverage ratio means that a firm is less likely to default on its outstanding debt. True/false Every ratio tells us for every one of what’s on the top, here’s how...

TRUE/FALSE Please indicate whether each question is true or false and provide a 1 sentence explanation...

TRUE/FALSE Please indicate whether each question is true or false and provide a 1 sentence explanation 5. Temperature is associated with terrestrial productivity. If the global temperature increased by 10C we would expect that grasslands would have an increase in both GPP and NPP. 6. In most ecosystems, the rate of phosphorous recycling through fixation exceeds the rate added through weathering. 7. An invasive insect called the Emerald Ash Borer has been killing off ash trees across eastern North America...

1. (30) True or False (explain your answer briefly. A simple "true" or "false" without explanation...

1. (30) True or False (explain your answer briefly. A simple "true" or "false" without explanation will get zero point) a) (6 points) An upper stream manufacturing rm merges with another downstream distri- bution firm so as to engage in price discrimination. Such a vertical merger will decrease all consumer'swelfare. b) (6 points) Two firms merge together, only if the transaction cost must be reduced. c) (6 points) Specic human capital is a barrier of vertical integration. d) (6 points)....

1. For each, circle either True or False. please add an explanation to each one so...

1. For each, circle either True or False. please add an explanation to each one so i can understand the reasoning (a) (1 point) A continuous function is always integrable. T/F (b) (1 point) A differentiable function is always continuous. T/F (c) (1 point) An integrable function is always differentiable. T/F (d) (1 point) If c is a critical value of function f then f(c) is a relative maximum. T/F (e) (1 point) If c is a relative minimum of...

Answer with TRUE or FALSE and include ONLY ONE sentence explanation Q1. All routes of vaccination...

Answer with TRUE or FALSE and include ONLY ONE sentence explanation Q1. All routes of vaccination successfully elicit virtually identical immune responses Q2. The prevalence of atopy has been steadily decreasing in the developed world Q3. During anaphylactic shock, blood vessels lose their permeability, and high blood pressure leads to death Q4. Serum sickness is a cellular hypersensitivity, primarily T-cell driven, can also invoke an inflammatory response by binding to complement proteins C5a

(a) State whether True or False and provide an explanation (or an example): If preferences are...

(a) State whether True or False and provide an explanation (or an example): If preferences are convex then the utility function must also always be convex. (b) Is U=(5x1+10x2)2 a monotonic transformation of U=x1+x2? Explain.

Question