An indifference curve is ________.
A) all the combinations of food and non-food that consumers are able to afford.
B) all the combinations of food and non-food that consumers prefer equally.
C) a straight line.
D) downward sloping and concave (bowed out from the origin).

Question

Quizplus · Accepted Answer

An indifference curve represents all the combinations of two goods that give the consumer equal satisfaction or utility. Therefore, all the combinations on the indifference curve are preferred equally by the consumer.

An Indifference Curve Is ________