Which of the following statements is FALSE?
A) A consumer has only one indifference curve.
B) A consumer possesses a preference map.
C) An indifference curve is a curve that shows the combination of goods among which a consumer is indifferent.
D) The marginal rate of substitution is equal to the magnitude of the slope of the indifference curve.
E) Diminishing marginal rate of substitution means that the marginal rate of substitution decreases as more of the good is consumed.

Question

Quizplus · Accepted Answer

A consumer can have multiple indifference curves, each representing a different level of utility or satisfaction.

Which of the Following Statements Is FALSE