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Question The indifference curve for perfect substitutes

Question : Question The indifference curve for perfect substitutes : 5560

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The indifference curve for perfect substitutes is illustrated by a downward sloping straight line because if two goods are perfect substitutes, then 1 unit of one good can always be substituted for 1 unit of a second good without affecting the level of one's utility. True, False, Uncertain. Explain. (That is, indicate if the statement presented is "true", "false", or "uncertain". A response of "uncertain " means that the statement is sometimes true, hut not always or that the rationale presented in the statement for the stated premise is incorrect).

 

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Economics 6 Months Ago 167 Views
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