Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:

Which of the following is NOT a characteristic of indifference curve?

Options:

Indifference curve sloped downward from right to left

Though, two indifference curves never intersect each other, exceptions in case of inferior goods exist

Lower the indifference curve, higher will be the utility due to diminishing marginal rate of transformation

All of the above

Correct Answer:

All of the above

Explanation:

Following are the characteristics of the indifference curve:

  • Indifference curve slopes downward from left to right
  • Higher the indifference curve, higher will be the utility
  • Two indifference curves never intersect each other