Graph 22-4
-Refer to Graph 22-4.Based on this graph, which of the following statements is correct?
A)point A is valued more than point B
B)point B is valued the same as point E
C)the bundle associated with point D contains more croissants than that associated with point
D)the bundles along indifference curve I1 are preferred to those along indifference curve I2

Question

Graph 22-4 
-Refer to Graph 22-4.Based on this graph, which of the following statements is correct?
A)point A is valued more than point B 
B)point B is valued the same as point E 
C)the bundle associated with point D contains more croissants than that associated with point 
D)the bundles along indifference curve I1 are preferred to those along indifference curve I2

Quizplus · Accepted Answer

Indifference curves represent levels of utility where each point on a given curve indicates a combination of goods that provides the same level of satisfaction to the consumer. A higher indifference curve, like I1 compared to I2, represents a higher level of utility, meaning the consumer prefers the bundles on I1 over those on I2.

Graph 22-4 -Refer to Graph 22-4.Based on This Graph, Which of the Which