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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?
Why is an indifference curve convex to the origin? (A) Indifference curve slope downward to the right (B) Two commodities are imperfect substitutes (C) Declining marginal rate of substitution between commodities (D) Diminishing marginal utilities Choose the most appropriate answer from the options given below:
Put these concepts in chronological order of their development.
1. Law of demand
2. Law of indifference
3. Law of DMU
4. Revealed preference theory
5. Indifference curve
In the indifference curve/budget line diagram, the consumer reaches higher indifference curves when
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
Put into chronological order on the basis of development:
1. Law of demand
2. Law of indifference
3. Law of diminishing marginal utility
4. Revealed preference curve
5. Indifference curve
On an indifference map, higher indifference curves show
The antonym of 'indifference' is --