Economics (AS & A Level) · Oct / Nov 2024 · Paper 32 · Question 2
9708Indifference curves and budget lines
Which feature of indifference curve theory is most likely to apply in reality?
- AThe consumer can express preferences between all possible combinations of goods.
- BThe consumer has a limited income to spend.
- CThe consumer will always behave rationally.
- DThe consumer will always get positive utility from having more of the goods.
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Correct answer: B. The consumer has a limited income to spend.
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