Suppose that a consumer's indifference curve map does not obey the assumption of a diminishing MRS, then а. the individual will buy none of good X. b. tangencies of indifference curves to the budget constraint may not be points of utility maximization. С. the budget constraint cannot be tangent to an appropriate indifference curve. d. the individual will not maximize utility.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Suppose that a consumer's indifference curve
map does not obey the assumption of a
diminishing MRS, then
а.
the individual will buy none of good X.
b.
tangencies of indifference curves to the
budget constraint may not be points of utility
maximization.
С.
the budget constraint cannot be tangent to an
appropriate indifference curve.
d.
the individual will not maximize utility.
Transcribed Image Text:Suppose that a consumer's indifference curve map does not obey the assumption of a diminishing MRS, then а. the individual will buy none of good X. b. tangencies of indifference curves to the budget constraint may not be points of utility maximization. С. the budget constraint cannot be tangent to an appropriate indifference curve. d. the individual will not maximize utility.
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