Which of the following are true-
In ordinal approach,
a) Downward sloping Indifference Curve means to gain more units of good Y a consumer is willing to sacrifice units of good X, to keep the total satisfaction constant .
b) Convexity of Indifference Curve means, to consume an additional unit of good X, a consumer will be willing to sacrifice more and more of good Y.

a is true, b is not

The correct answer is Option 2: a is true, b is not

Statement (a): True

• The indifference curve (IC) is downward sloping because to gain more of one good (Y), the consumer must sacrifice some units of the other good (X) to maintain the same level of satisfaction.
• This follows the concept of marginal rate of substitution (MRS), which states that consumers are willing to substitute one good for another while maintaining the same level of utility.

Statement (b): False

• The convexity of the indifference curve means that as a consumer consumes more of good X, they are willing to sacrifice fewer units of good Y.
• This follows the law of diminishing marginal rate of substitution, meaning the consumer gives up less and less of Y for each additional unit of X.
• The incorrect part in statement (b) is: "a consumer will be willing to sacrifice more and more of good Y." The consumer actually sacrifices less and less of Y as they get more of X.