Which of the following statements are not true?
A)Indifference curves do not have to be downward sloping.
B)Indifference curves depict the level of well-being that a person experiences in consuming different combinations of goods and services.
C)The higher the indifference curve,the higher the consumer's welfare.
D)An individual is indifferent between different bundles of goods and services at any point along an indifference curve.

Question

Quizplus · Accepted Answer

Indifference curves must be downward sloping to represent the idea of diminishing marginal utility - as an individual consumes more of one good, the marginal utility decreases and they require more of the other good to maintain the same level of satisfaction/well-being.

Which of the Following Statements Are Not True