Question : An indifference curve measures the same level of:
Option 1: output from two factors
Option 2: satisfaction from two commodities
Option 3: satisfaction from income and capital
Option 4: satisfaction from expenditure and saving
Correct Answer: satisfaction from two commodities
Solution : The correct answer is satisfaction from two commodities.
An indifference curve is a graph that depicts all the combinations of two commodities that provide the same satisfaction to the consumer. Indifference curves are downward sloping because customers are prepared to trade off some of one product for more of another as long as their level of pleasure remains constant.
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