Which of the following statements is not true with regard to the standard properties of indifference curves?
A) Indifference curves are downward sloping.
B) Indifference curves are bowed outward.
C) Indifference curves do not cross each other.
D) Higher indifference curves are preferred to lower ones.

Question

Quizplus · Accepted Answer

Indifference curves are typically bowed inward (convex to the origin), not outward, due to the assumption of diminishing marginal rates of substitution.

Which of the Following Statements Is Not True with Regard