Bissoy.com
Doctors Medicines MCQs Q&A

Which one of the following is not the basic property of indifference curves ?

Which one of the following is not the basic property of indifference curves ? Correct Answer Indifference curves of imperfect substitutes are concave to the origin.

'Indifference curves of imperfect substitutes are concave to the origin' is not the basic property of indifference curves.

Explanation:

An indifference curve is a graph showing a combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility.

Basic Properties Of Indifference Curves:

  1. Indifference curves slope negatively or slope downwards from the left to the right.
  2. Indifference curves are convex to the origin.
  3. Indifference curves cannot intersect each other.
  4. A higher indifference curve represents a higher level of satisfaction than a lower indifference curve.
  5. The indifference curve will not touch the axis.

Related Questions

Indifference curves relating to supply of labour have a number of properties some of which are mentioned below
1. Indifference curves are downward slopping
2. Indifference curves are upward slopping
3. Higher indifference curves indicate lower levels of utility
4. Higher indifference curves indicate higher levels of utility
5. Indifference curves do not intersect
6. Indifference curves intersect
7. Indifference curves are concave to the origin
8. Indifference curves are convex to the origin
Which among the following properties are not true?
Consider the following statements about indifference curves: 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other. Which of the statements given above is/are correct?
Consider the following statements about indifference curves: 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other.Which of the statements given above is/are correct?
Which of the following statement is/are correct?
1. Indifference curves slope downwards to the right
2. Indifference curves can never intersect each other
Select the correct answer
Which one of the following is not the basic property of indifference curves?
In the indifference curve/budget line diagram, the consumer reaches higher indifference curves when
On an indifference map, higher indifference curves show
Consider the following statements.
1. Magnetic lines of force are closed curves while electric lines are not.
2. Electric lines of force are closed curves while magnetic lines are not.
3. Both electric and magnetic lines of force are closed curves.
Which of statement(s) given above is/are correct?
Consider the following statements concerning railways: 1. A level stretch equal to the maximum train length is to be provided between the gradient reaches where a rising gradient is followed by a falling gradient. 2. Vertical curves in railway tracks are not set out as parabolas. 3. Diamond crossings can be laid on curves also. 4. Curves should be avoided at the top level segment of bridges. Which of the above statements are correct?
Assertion (A): If the monopolist faces identical demand curves for his commodity in two separate markets, by practising third degree price discrimination, he cannot increase his TR and total profits.
Reason (R): As the marginal revenue curves are identical when the demand curves in the two markets are the same, the monopolist will not charge different prices in each market to maximise profits.