Asked by
Brahim Bijdir
on Oct 27, 2024
Verified
For most goods,as we move down an indifference curve:
A) the slope gets flatter.
B) the slope gets steeper.
C) the slope stays the same.
D) total utility decreases.
Indifference Curve
A graphical representation that shows different combinations of two goods among which a consumer is indifferent.
Total Utility
The total satisfaction or benefit a consumer receives from consuming a particular quantity of goods or services.
- Gain an understanding of the essential concepts behind indifference curves and their function in illustrating preferences of consumers.
Verified Answer
JT
Learning Objectives
- Gain an understanding of the essential concepts behind indifference curves and their function in illustrating preferences of consumers.