-Refer to the above figures. Which panel best represents an indifference curve?
A) Panel A
B) Panel B
C) Panel C
D) Panel D

Question

-Refer to the above figures. Which panel best represents an indifference curve?
A) Panel A 
B) Panel B 
C) Panel C 
D) Panel D

Quizplus · Accepted Answer

An indifference curve represents a series of points that give a consumer equal satisfaction and utility, meaning the consumer has no preference for one combination over another on the same curve. Panel C shows a typical indifference curve, which is downward sloping and convex to the origin, reflecting the principle of diminishing marginal rate of substitution.

-Refer to the Above Figures