Economists represent a consumer's preferences using
A)demand curves.
B)budget constraints.
C)indifference curves.
D)supply curves.

Question

Quizplus · Accepted Answer

Indifference curves are used to represent a consumer's preferences in microeconomics. These curves show all possible combinations of two goods that would provide the same level of satisfaction (or utility) to the consumer. The consumer is indifferent between any combination of goods that lies on the same indifference curve. By analyzing these curves, economists can understand how consumers make choices and how changes in prices or income affect their consumption decisions. Demand curves, budget constraints, and supply curves are also important concepts in microeconomics, but they are not used to directly represent a consumer's preferences.

Economists Represent a Consumer's Preferences Using