Question

Indifference curves are A. concave to the origin. B. either convex or concave to the origin. C. convex to the origin. D. no specific shape.

Answer 1

Answer: option C ; convex to the origin

Explanation:

Indifference curves shows the indifference of a customer to a combination of goods. It shows that a customer can have some level of satisfaction from either good. The indifference curve slopes downwards from left to right because as there is an increase in consumption of one good, there is lower for other goods. The curve convex at the origin to show the marginality in consuming one good over another.