It is NOT true that indifference curves
A) represent the various combinations of two goods that yield the same level of utility.
B) are typically bowed inward.
C) cannot be thick.
D) cannot intersect.
E) are modeled based on the assumption that people make irrational decisions.

Question

Quizplus · Accepted Answer

Indifference curves are based on the assumption that consumers make rational decisions to maximize their utility, not irrational decisions. Choices A, B, C, and D describe characteristics commonly associated with indifference curves in economic theory.

It Is NOT True That Indifference Curves