A consumer's set of indifference curves provides a:
A)complete ranking of all possible consumption bundles
B)ranking of the set of bundles that happen to fall on indifference curves
C)framework for evaluating market equilibriums
D)relative ranking of bundles that provide more of all goods

Question

Quizplus · Accepted Answer

Indifference curves represent a consumer's preferences and provide a complete ranking of all possible consumption bundles that are equally preferred by the consumer. This ranking facilitates a consumer's decision-making process by allowing them to compare and choose between different bundles.

A Consumer's Set of Indifference Curves Provides A