Ask Question
26 November, 22:14

Can a set of indifference curves be upward sloping? If so, what would this tell you about the two goods?

+5
Answers (1)
  1. 26 November, 22:47
    0
    D. cannot be upward sloping because this violates the assumption that more is better than less, indicating that one of the goods is a "bad."

    Explanation:

    The curve of indifference is the curve at which the combination of two products is shown in such a way that the consumer gets equal satisfaction making the consumer distinct.

    It cannot be upward sloping as it makes the comparison between the good and the bad item that represents the good item is more better than the bad item that reflects one of the items is bad

    This is an incomplete question, the options are shown below:

    A. cannot be upward sloping because this violates the assumption that more is better than less, indicating that one of the goods is a "neutral."

    B. cannot be upward sloping because this violates the assumption of transitivity, indicating that one of the goods is a "neutral good ."

    C. cannot be upward sloping because this violates they the assumption of completeness, indicating that one of the goods is a "bad ."

    D. cannot be upward sloping because this violates the assumption that more is better than less, indicating that one of the goods is a "bad."

    E. cannot be upward sloping because this violates the assumption of transitivity, indicating that preferences are not consistent.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Can a set of indifference curves be upward sloping? If so, what would this tell you about the two goods? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers