Figure 21-25 The figure pertains to a particular consumer. On the axes, X represents the quantity of good X and Y represents the quantity of good Y.
-Refer to Figure 21-25. The four curves that are drawn on the figure are
A)indifference curves.
B)budget constraints.
C)demand curves.
D)income curves.

Question

Figure 21-25 The figure pertains to a particular consumer. On the axes, X represents the quantity of good X and Y represents the quantity of good Y. 
-Refer to Figure 21-25. The four curves that are drawn on the figure are
A)indifference curves. 
B)budget constraints. 
C)demand curves. 
D)income curves.

Quizplus · Accepted Answer

The curves are showing different combinations of Good X and Good Y that provide the same level of utility or satisfaction to the consumer, indicating that they are indifference curves. The budget constraint would be a straight line, whereas the curves are curved. The curves are not demand or income curves as they do not show the relationship between price and quantity demanded or income and the quantity purchased.

Figure 21-25 the Figure Pertains to a Particular Consumer