Question : Statement 1: Indifference curves represent different combinations of goods that give the consumer the same level of satisfaction.

Statement 2: The consumer chooses the consumption bundle that lies on the highest attainable indifference curve.

Question : Assertion: Consumer equilibrium can occur at multiple points of tangency between the budget line and indifference curves.

Reason: The consumer can achieve the same level of utility by choosing different combinations of goods that are equally preferable.

Question : Statement 1: The consumer achieves equilibrium when the marginal utility per dollar spent is equal for all goods.

Statement 2: At equilibrium, the consumer maximizes their total utility within the constraints of their budget.

Question : Statement 1: The consumer's equilibrium is achieved when the budget line is steeper than the highest attainable indifference curve.

Statement 2: The consumer's equilibrium is determined by the intersection of the budget line and the highest attainable

Question : Statement 1: A consumer achieves equilibrium by consuming equal quantities of all goods.

Statement 2: The concept of consumer equilibrium assumes that the consumer's goal is to maximize their total utility.