Question : ______shows a variety of combinations of these two products that provide the same level of satisfaction:-
Option 1: Indifference curve
Option 2: ISO quant
Option 3: Marginal utility curve
Option 4: ISO cost curve
Correct Answer: Indifference curve
Solution : An indifference curve depicts a combination of two goods in varying quantities that provides an individual with equal satisfaction (utility). Hence option a is the correct answer.
Question : An indifference curve measures the same level of:
Question : Indifference curves are concave to the origin because of:
Question : The consumer gets maximum satisfaction at the point where:
Question : The indifference curve's slope is calculated using:
Question : Which of the following cost curve is never 'U' shaped?
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