Jenna and Walter are on a road trip across the country. They both say that they get 25 utils from peanut butter sandwiches and 25 utils from trail mix. Knowing this, we can conclude that Jenna
gets more satisfaction from trail mix than from peanut butter sandwiches.
gets more satisfaction from trail mix than Walter does.
and Walter are both indifferent between other food than peanut butter sandwiches or trail mix.
and Walter will consume the same amount of peanut butter sandwiches and trail mix on the road trip.
gets the same satisfaction from peanut butter sandwiches that Walter does.
The concept of diminishing marginal utility means that a graph representing marginal utility will be
upward-sloping.
impossible to generalize without a data set.
downward-sloping.
upward-facing concave.
downward-facing concave.
The ________ line, and the area underneath, contain all of the possible combinations that a consumer can afford.
redaction
Maginot
optimization
budget constraint
indifference
