If an Indifference Curve Is Smooth and Convex to the Origin

question 48

Multiple Choice

If an indifference curve is smooth and convex to the origin, then:

• A)the two goods are said to be concave combinations of each other.
• B)there is a diminishing marginal rate of substitution.
• C)the two goods are said to be convex combinations of each other.
• D)the indifference curve is said to be normal.

---

Definitions:

Collectivism

A cultural value that emphasizes group goals, interdependence, and the importance of community and family.

Collectivism

A cultural or societal orientation that emphasizes the group and its interests over the individual.

Individualism

Individualism is a social philosophy or ideology that emphasizes the moral worth of the individual, advocating for freedom of action and the importance of individual goals over collective ones.

Personal Privacy

The right of individuals to keep their personal information and activities confidential and free from unauthorized scrutiny.