A series of ascending indifference curves is called
A) a demand curve
B) a budget constraint
C) an indifference map
D) marginal-utility-to-price ratio curves
E) consumer surplus

Question

Quizplus · Accepted Answer

An indifference map is a graph showing a series of indifference curves that represent different levels of utility (satisfaction) for a consumer faced with various combinations of goods. Each curve on the map indicates points at which a consumer is indifferent between the different bundles of goods, with higher curves representing higher levels of utility.

A Series of Ascending Indifference Curves Is Called