Following is a depiction of Abdul's indifference curves over fish caught (output) and hours spent fishing.- siope -slope - h-21012A's hours, h^Select the THREE correct statements about the graphSelect one or more:O a. This graph conveys the information that there is an externality in this game.b. Abdul likes output and dislikes fishing hours.C. As Abdul's fishing hours increase, his disutility of effort increases at an increasing rate.d. Abdul has altruistic preferences.e. As Abdul increases his fishing hours, his output increases, and at an increasing rate.f. As we move north-west Abdul's utility increases.g.Abdul dislikes fishing hours but does not care about output.Output, y^

The indifference curve would cause the combinations of the goods which give the same utility. The…

Select the THREE correct statements about the graph Select one or more: O a. This graph conveys the information that there is an externality in this game. O b. Abdul likes output and dislikes fishing hours. O C. As Abdul's fishing hours increase, his disutility of effort increases at an increasing rate. d. Abdul has altruistic preferences. e. As Abdul increases his fishing hours, his output increases, and at an increasing rate. O f. As we move north-west Abdul's utility increases. g. Abdul dislikes fishing hours but does not care about output.

Select the THREE correct statements about the graph Select one or more: O a. This graph conveys the information that there is an externality in this game. O b. Abdul likes output and dislikes fishing hours. O C. As Abdul's fishing hours increase, his disutility of effort increases at an increasing rate. d. Abdul has altruistic preferences. e. As Abdul increases his fishing hours, his output increases, and at an increasing rate. O f. As we move north-west Abdul's utility increases. g. Abdul dislikes fishing hours but does not care about output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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