The more difficult it is to substitute one good for another, the more bowed inward indifference curves become.

Name: The more difficult it is to substitute one good for another, the more bowed inward indifference curves become.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The statement is true. Bowed inward indifference curves indicate a high degree of preference for one good over another and imply that the goods are not easily substitutable.

The More Difficult It Is to Substitute One Good for Another