refer to the following diagram -The shape of the worker's indifference curves-I₁,I₂,and I₃-indicates that: A)the worker faces a constant trade-off between job safety and wages B)for each successive reduction in job safety,greater increases in wages are required to maintain the same utility C)for each successive reduction in job safety,smaller increases in wages are required to maintain the same level of utility D)for each successive reduction in job safety,smaller reductions in wages are required to maintain the same utility

Question

Quizplus · Accepted Answer

The shape of the worker's indifference curves indicates that for each successive reduction in job safety, greater increases in wages are required to maintain the same utility. This is because the curves typically represent a diminishing marginal rate of substitution between job safety and wages, meaning as job safety decreases, a worker would require increasingly higher wages to be equally satisfied or to maintain the same level of utility.

Refer to the Following Diagram