Q969
Which one of the following is not a feature of Indifference Curve?
A.
They do not intersect each other
B.
They slope downwards to the right
C.
They are parallel to each other
D.
They are concave to each other
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Indifference curves are usually convex to the origin. In other words, the indifference curve is relatively flatter in its right-hand portion and relatively steeper in its left-hand portion. The degree of convexity of an indifference curve depends on the rate of fall in the marginal rate of substitution.