Which of the following statements is true? a. An indifference curve represents combinations of consumption bundles that yield the same utility. b. An ndifference curve closer to point of origin (bottom left) is more desirable for a consumer c. Utility always rises as more of a product is consumed d. ndifference curves may intersect

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.