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Question Practice

Which of the following best describes an indifference curve?

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MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Theory Of Consumer Behaviour
Question Bank

Which of the following best de...

Single Answer MCQ
Q-00089309

Which of the following best describes an indifference curve?

1

It shows the budget line of a consumer.

2

It represents combinations of goods providing the same satisfaction.

3

It indicates the price elasticity of demand.

4

It demonstrates the law of diminishing returns.

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What does the law of diminishing marginal utility state?

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If a consumer prefers more of a good as long as its marginal utility is positive, what will they do?

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Q3.

What shapes the typically convex shape of an indifference curve?

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Q4.

If two indifference curves intersect, what can be inferred?

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