Which of the following is true concerning the indifference map?
A) Each consumer has a map of indifference curves.
B) Consumers always prefer curves farther from the origin.
C) Each indifference curve in the map represents a different level of total utility.
D) All of the above are true.
E) None of the above is true.

Question

Quizplus · Accepted Answer

A) Each consumer has a map of indifference curves - This is true as the indifference map shows the various combinations of two goods that a consumer is indifferent between.
B) Consumers always prefer curves farther from the origin - This is not true. The shape and position of indifference curves can vary based on individual preferences and the specific goods being consumed.
C) Each indifference curve in the map represents a different level of total utility - This is true as the curves represent different combinations of goods that provide the same level of satisfaction or utility for the consumer.
Therefore, choice D is the correct answer.

Which of the Following Is True Concerning the Indifference Map