When Indifference Curves Are Bowed in Toward the Origin

question 535

Multiple Choice

When indifference curves are bowed in toward the origin,

• A)consumers are less inclined to trade away goods they are lacking.
• B)consumers' willingness to trade away goods they have in abundance diminishes.
• C)an increase in income will shift the indifference curve away from the origin.
• D)a decrease in income will shift the indifference curve toward the origin.

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Definitions:

Inherently Distinctive

A characteristic of trademarks that are unique and recognizable enough to be legally protected without proving secondary meaning.

Secondary Meaning

A legal concept whereby a descriptive or generic term acquires distinctiveness associated with a specific product or service over time.

Trademark Dilution

A legal concept where a famous trademark's value is lessened due to its unauthorized use by others, even without causing confusion.

Trademark Infringement

Using a trademark or service mark without permission on goods and/or services, in a way that could confuse, mislead, or cause errors about who provides the goods and/or services.