Indifference curves are :...

Indifference curves are :

A

Concace to the origin.

B

Convex to the origin

C

Upwards sloping straight line passing from the origin

D

None of these

Text Solution

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The correct Answer is:

B

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Consider the following statements about indifference curves : 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other Which of the statements given above is/are correct?

Why do Indifference curves not intersect each other ?

Knowledge Check

An indifference curve always:

A

Slope downwards from left to right.

B

Slopes upwards from left to right

C

Is parallel to the Y-axis

D

Is parallel to the X-axis.

Which of these is not a property of indifference curve ?

A

Indifference curve slopes downards

B

Indifference curve is concave downwards

C

Two indifference curves cannot intersect each other

D

Higher indifference curve represents higher level of satisfaction

The farther the Indifference Curve is from the origin, then :

A

Higher is the satisfaction level

B

lower is the satisfaction level

C

Same satisfaction level will be obtained

D

Nothing can be said about satisfaction

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Higher indifference curve represents higher level of satisfaction to the consumer. State the underlying assumption related to this property of indifference curve.

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SANDEEP GARG-CONSUMER'S EQUILIBRIUM-Revision Exercise

Indifference Map refers to:
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Budget set inculdes:
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Indifference curves are :
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Which of these is a conditions for consumer's equilibrium by indiffere...
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If (MU(X))/(P(X)) gt (MU(Y))/(P(Y)), then to reach the equilbrium posi...
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If the consumption of an additional unit of a commodity casues no chan...
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An indifference curve is best described as a series of points which sh...
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Marginal Utility (MU) of n^(th) unit is calculated as:
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In case of single commodity, consumer's equilibrium is achieved when:
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measures the slope of indifference curve.
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In the following diagram of budget line, point ''D'' represents :
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How is TU derived from MU ?
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What happends to MU when TU is maximum ?
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An indifference curve always:
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In case of cardinal utility approach, utility is measured in:
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'Cardinality'' means utility can be:
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Which Law states that. ''When a consumer consumes more and more units ...
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