GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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On an indifference map, higher indifference curves show
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The higher level of utility
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The optimum level of satisfaction
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The same lower level of satisfaction
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Levels of satisfaction among which the consumer is indifferent
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Explanation:
Detailed explanation-1: -Higher indifference curves represent a greater level of utility than lower ones.
Detailed explanation-2: -Utility-Maximizing with Indifference Curves People seek the highest level of utility, which means that they wish to be on the highest possible indifference curve.
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