Solved

When Indifference Curves Are Bowed in Toward the Origin

Question 192

Multiple Choice

When indifference curves are bowed in toward the origin,


A) consumers are more inclined to trade away goods they have in abundance.
B) an increase in income will shift the indifference curve away from the origin.
C) a decrease in income will shift the indifference curve toward the origin.
D) Both b) and c) are correct.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions