Discussion
Which of the following is not the property of indifference curve ?
Answer: B
The statement that is not a property is indifference curve is concave to origin.
Indifference curves are convex to the origin, because the marginal rate of substitution diminishes: the more of X a consumer has, the less Y he will give up for one more unit of X.
The other statements are standard properties. Indifference curves slope downward, since more of one good must be offset by less of the other; two curves cannot intersect, since that would make one bundle give two different levels of satisfaction; and a higher curve represents a higher level of satisfaction.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development