Which of the ff. statements is correct? A. Indifference curves which look like letter L show that the two goods are independent B. indifference curves which look like a downward sloping straight lines show that the two goods are complementary C. indifference curves which are downward sloping with changing slopes show that the two goods are imperfect substitutes D. all are correct E. %none is correct
Which of the ff. statements is correct? A. Indifference curves which look like letter L show that the two goods are independent B. indifference curves which look like a downward sloping straight lines show that the two goods are complementary C. indifference curves which are downward sloping with changing slopes show that the two goods are imperfect substitutes D. all are correct E. %none is correct
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.4P
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Which of the ff. statements is correct?
A. Indifference curves which look like letter L show that the two goods are independent
B. indifference curves which look like a downward sloping straight lines show that the two goods are complementary
C. indifference curves which are downward sloping with changing slopes show that the two goods are imperfect substitutes
D. all are correct
E. %none is correct
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