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Which of the following is not true?
  • a)
    Indifference curves cannot intersect each other
  • b)
    Two indifference curve can be tangent to each other
  • c)
    Indifference curves are convex to the origin
  • d)
    Indifference curves slopes downward to the right
Correct answer is option 'B'. Can you explain this answer?
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Which of the following is not true?a)Indifference curves cannot inters...
Each indifference curve is convex to the origin, and no two indifference curves ever intersect. Consumers are always assumed to be more satisfied when achieving bundles of goods on higher indifference curves. If a consumer's income increases, the curve will move higher up on a graph because the consumer can now afford more of each type of good.
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Which of the following is not true?a)Indifference curves cannot inters...
Ans: Option 'B' is correct because --
~Two INDIFFERENCE CURVES can't be TANGENT to each other.
~The POINTS of TANGENCY, if they're different, income would not remain same.
~On all BUNDLES on an IC, the LEVEL of UTILITY derived by the individual is SAME.
~However, the DIFFERENT PRICES of goods would makes each of those bundles COST DIFFERENTLY. Hence the TOTAL EXPENDITURE to buy those bundles would be DIFFERENT.
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Which of the following is not true?a)Indifference curves cannot intersect each otherb)Two indifference curve can be tangent to each otherc)Indifference curves are convex to the origind)Indifference curves slopes downward to the rightCorrect answer is option 'B'. Can you explain this answer?
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