The figure shows the indifference curves of a student for the two goods, free time and final grade. Based on this information, read the following statements and select the correct one(s).
Image failed to load: The indifference curves of a student for the two goods, free time and final grade

Question

The figure shows the indifference curves of a student for the two goods, free time and final grade. Based on this information, read the following statements and select the correct one(s).

Answer

At A, the student is willing to give up 34 grade points for five extra hours of free time.

Answer

The student strictly prefers a grade of 54 with 19 hours of free time to a grade of 67 with 18 hours of free time.

Answer

If at B the number of free hours is 10, then the student is 50% happier at A than at B.

Answer

A is the student's most preferred choice as she would be attaining the highest grade.

Crowdly

The figure shows the indifference curves of a student for the two goods, free ti...

Want instant access to all verified answers on learning.monash.edu?