Each of the following are characteristics of a typical indifference curve map except
A)moving northeast to a new indifference curve will increase utility.
B)points on the same indifference curve yield equal utility.
C)the axes represent levels of utility for each of the goods.
D)indifference curves cannot cross.

Question

Quizplus · Accepted Answer

The axes on an indifference curve map do not represent levels of utility for each of the goods; they represent the quantity of each good consumed. Utility is a subjective concept and cannot be objectively measured or placed on a scale.

Each of the Following Are Characteristics of a Typical Indifference