Question : Which one of the following is not a feature of the indifference curve?
Option 1: They do not intersect each other.
Option 2: They slope downwards to the light.
Option 3: They are parallel to each other.
Option 4: They are concave to each other.
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Correct Answer: They are concave to each other.
Solution : The correct answer is They are concave to each other .
An indifference curve is a chart illustrating combinations of two goods that consumers find equally satisfying. The four properties are: indifference curves never cross; they always slope downwards, indicating trade-offs; they are convex, reflecting diminishing marginal rate of substitution; and the farther out, the higher the utility they indicate.
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