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 the rate at which a consumer will give up good y to get more of good x and remain on the same indifference curve.

Question

Quizplus · Accepted Answer

A consumer can have multiple indifference curves that represent different levels of satisfaction or utility. Each curve represents a different combination of goods that the consumer is indifferent between.

Which of the Following Statements Is FALSE