Multiple Choice
Refer to the diagram, in which the downsloping lines are budget lines and I1, I2, and I3 comprise an indifference map. The combinations of products M and N indicated by points 1, 3, and 5 are such that
A) all three imply the same level of utility.
B) 1 and 5 imply a higher level of utility than does 3.
C) 3 implies a higher level of utility than does 1 or 5.
D) the person is indifferent among the three combinations.
Correct Answer:

Verified
Correct Answer:
Verified
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