The shape of a person's indifference curves between two goods depends on
A)the prices of the two goods.
B)the person's income.
C)the degree of substitutability between the two goods.
D)the level of satisfaction for the person.
E)all of the above.

Question

Quizplus · Accepted Answer

The shape of a person's indifference curves between two goods depends on the degree of substitutability between the two goods. The prices of the two goods and the person's income may affect the level of satisfaction and the quantity consumed, but they do not determine the shape of the indifference curves.

The Shape of a Person's Indifference Curves Between Two Goods