typical indifference curve
A)shows all combinations of goods that give a consumer the same level of utility.
B)shows that as a consumer has more of a good,he is less willing to exchange it for one unit of another good.
C)shifts out if income increases.
D)both a and b
E)all of the above

Question

Quizplus · Accepted Answer

A typical indifference curve shows all combinations of goods that give a consumer the same level of utility. The other options are partially correct but not complete, as B only describes the law of diminishing marginal rate of substitution and C only describes a specific scenario where income increases.

Typical Indifference Curve