If one were to draw indifference curves representing preferences over two varieties of red apples, it is likely that one would draw them as:
A)almost straight lines.
B)almost "L-shaped."
C)positively sloped.
D)crossing.

Question

Quizplus · Accepted Answer

Indifference curves are typically drawn as convex to the origin to indicate diminishing marginal utility. However, when it comes to preferences between two varieties of the same good, such as two types of red apples, the indifference curves are likely to be almost straight lines because the individual's preference between the two types of red apples is likely to be substitutes (i.e., they are willing to trade one for the other at a constant rate). Therefore, the individual would be equally satisfied with any combination of the two apples as long as the total quantity remains the same. Indifference curves for two varieties of red apples would likely be almost straight lines because the two types of apples are perfect substitutes for each other.

If One Were to Draw Indifference Curves Representing Preferences Over