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Indifference Curves for Perfect Substitutes and Perfect Complements
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Indifference Curves for Perfect Substitutes and Perfect Complements
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18. Consumer Choice and Behavioral Economics / Indifference Curves for Perfect Substitutes and Perfect Complements / Problem 3
Problem 3
What is a limitation of using perfect substitutes in economic models?
A
They require goods to be consumed in fixed proportions.
B
They assume goods are unrelated.
C
They assume diminishing marginal utility.
D
They rarely exist in the real world.
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