Identify false statement about indifference curves (IC) from the following:
(
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Shift 09/06/2023 3:30 PM - 6:30 PM
A
Two ICs can intersect each other
B
Higher IC gives higher level of satisfaction
C
IC slopes downwards from left to right
D
All points on an IC give equal level of satisfaction to a consumer
Correct Answer
Two ICs can intersect each other
Detailed Explanation
1.Indifference curves are convex to the origin.
2. Indifference curves cannot intersect each other.
3. A higher indifference curve represents a higher level of satisfaction than a lower indifference curve.
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