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Which of the following lists the three main properties of indifference curve? Group of answer choices...

Which of the following lists the three main properties of indifference curve? Group of answer choices

1) Upward sloping, concave to the origin, and do not intersect

2) Downward sloping, concave to the origin, and do not intersect

3) Downward sloping, convex to the origin, and do not intersect

4) Upward sloping, convex to the origin, and intersect at the origin

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Answer #1

Answer - 3) Download sloping, convex to the origin, and do not intersect.

Indifference curves generally represents the combination of two goods that provides consumer equal or same satisfaction. The main properties of indifference curve are

a. It is a downward sloping curve indicating that if the consumer wants to consume more of one good, he has to decrease the consumption of other good.

b. It must be convex to origin. For the diminishing marginal rate of substitution, the curve must be convex.

c. Indifference curves do not intersect to each other.

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