Which characteristic of the indifference curve explains that the ranking of the bundles of goods by the consumer should be consistent? A. downward sloping indifference curve B. upward sloping indifference curve C. declining slope of the indifference curve D. indifference curve farther from the origin E. no correct answer

Which characteristic of the indifference curve explains that the ranking of the bundles of goods by the consumer should be consistent? A. downward sloping indifference curve B. upward sloping indifference curve C. declining slope of the indifference curve D. indifference curve farther from the origin E. no correct answer

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.1P

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Just confirming the ans dont copy Which characteristic of the indifference curve explains that the ranking of the bundles of goods by the consumer should be consistent? A. downward sloping indifference curve B. upward sloping indifference curve C. declining slope of the indifference curve D. indifference curve farther from the origin E. no correct answer
Explain why indifference curvesa. are downward sloping.b. are convex to the origin.c. do not cross.
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