Asked by Annette Herrera on Jul 24, 2024
Verified
It is possible for a consumer's indifference curves to intersect.
Indifference Curves
A graphical representation that shows a combination of two goods or services that gives a consumer equal satisfaction and utility.
Intersect
The point at which two or more lines or paths cross each other.
- Identify and describe the significance of indifference curves and consumer preferences.
Verified Answer
RM
Rylea MarcumJul 30, 2024
Final Answer :
False
Explanation :
Indifference curves represent combinations of goods that provide the same level of utility to a consumer. They cannot intersect because if they did, it would imply a point of intersection provides two different levels of utility, which is contradictory.
Learning Objectives
- Identify and describe the significance of indifference curves and consumer preferences.
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