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EBK MICROECONOMICS
13th Edition
ISBN: 8220106798652
Author: Arnold
Publisher: CENGAGE L
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Question
Chapter C, Problem 2QP
(a)
To determine
Explain why the indifference curves are downward sloping.
(b)
To determine
Explain why the indifference curves are convex to the origin.
(c)
To determine
Explain why the indifference curves do not intersect each other.
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Students have asked these similar questions
Which of the following statements is FALSE as it relates to indifference curves:
a.
They are convex to the origin.
b.
They are downward sloping.
c.
They exhibit higher levels of utility as you move from the origin.
d.
They could intersect.
Explain how indifference curves can never cross.
What are indifference curves?
Chapter C Solutions
EBK MICROECONOMICS
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- Why do we expect that indifference curves will never cross?arrow_forwardAn indifference curve that has a higher level of utility will be of an indifference curve with a lower level of utility. Indifference curves for preferences that fit the four main assumptions will be to the origin. Select one: a. Left; Convex b. Right; Concave c. Right; Convex d. Left; Concavearrow_forwardWhy is it impossible for two indifference curves to intersect one another?arrow_forward
- It is known that the indifference curve is convex. What does this tell you about the relationship between the goods?arrow_forwardExplain why two indifference curves cannot intersect.arrow_forwardConsider indifference curves for the consumption of milk and chocolates (you may assume that both are "goods"). The indifference curves are drawn with the number of chocolate bars on the horizontal axis and pints of milk on the vertical axis. Suppose consumer A has a flatter indifference curve than consumer B. In this case, we can conclude that: a. Consumer A likes chocolate more than consumer B. b. The price of milk relative to the price of chocolates is higher for consumer A than for consumer B. с. The indifference curves of the two consumers cannot cross. d. Given the same amount of chocolates, consumer A is willing to swap one bar of chocolate for a smaller amount of milk than consumer B.arrow_forward
- Suppose a consumer only purchases food and clothing, and food plotted along the horizontal axis of the consumers indifference map. If the price of clothing increases and the price of food and Income do not change, then the budget line changes by rotating .?arrow_forwardAn indifference curve that has a higher level of utility will be of an indifference curve with a lower level of utility. Indifference curves for preferences that fit the four main assumptions will be at higher levels of X. Select one: a. Right; Steeper b. Left; Steeper c. Right; Flatter d. Left; Flatterarrow_forwardFor any two goods (things you would like more of): Select one or more: a. Indifference curves are downward-sloping. b. Indifference curves can sometimes cross. c. Indifference curves can have straight line sections. d. Indifference curves cannot have kinks.arrow_forward
- Why does total utility increased as the consumer moves to an indifference curve farther from the origin? Why can’t indifference curves intersect?arrow_forwardWrite down and explain the four properties of indifference curve.provide adequate graphs.arrow_forwardWrite down and explain the four properties of indifference curve. Provide adequate graphs. Don,t copy from anywhere. Answer step by step. Answer must be correct. Must Provide adequate graphs.arrow_forward
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