What is a distinguishing characteristic of goods that are perfect complements?
A)straight-line indifference curves
B)upward-sloping demand curves
C)L-shaped indifference curves
D)upward-sloping indifference curves
E)curved indifference curves,bowed away from the origin

Question

Quizplus · Accepted Answer

Perfect complements have L-shaped indifference curves because they are consumed in fixed proportions. For example, left shoes and right shoes are perfect complements as they must be consumed in a fixed ratio of one left shoe to one right shoe. Therefore, the indifference curve will be a 90-degree angle, forming an L-shape.

What Is a Distinguishing Characteristic of Goods That Are Perfect