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A higher indifference curve shows
- a)A higher level of satisfaction
- b)A higher level of production
- c)A higher level of income
- d)None of the above.
Correct answer is option 'A'. Can you explain this answer?
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A higher indifference curve showsa)A higher level of satisfactionb)A h...
Higher Indifference Curve and Satisfaction
Indifference curve is a graphical representation of a consumer's preferences for two goods. It shows all the combinations of two goods that provide the same level of satisfaction to the consumer.
When a higher indifference curve is compared to a lower one, it means that the consumer can achieve a higher level of satisfaction with the same two goods.
Therefore, the correct answer is option 'A' - a higher indifference curve shows a higher level of satisfaction.
In summary, the higher the indifference curve, the higher the level of satisfaction a consumer can achieve with two goods.
Indifference curve is a graphical representation of a consumer's preferences for two goods. It shows all the combinations of two goods that provide the same level of satisfaction to the consumer.
When a higher indifference curve is compared to a lower one, it means that the consumer can achieve a higher level of satisfaction with the same two goods.
Therefore, the correct answer is option 'A' - a higher indifference curve shows a higher level of satisfaction.
In summary, the higher the indifference curve, the higher the level of satisfaction a consumer can achieve with two goods.
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A higher indifference curve showsa)A higher level of satisfactionb)A higher level of productionc)A higher level of incomed)None of the above.Correct answer is option 'A'. Can you explain this answer?
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