Suppose That Indifference Curve I1 Lies to the Left of Indifference

question 319

Multiple Choice

Suppose that indifference curve I1 lies to the left of indifference curve I2. We can conclude that

• A) some, but not all, points on indifference curve I1 will correspond to higher utility than points along indifference curve I2.
• B) some, but not all, points on indifference curve I1 will correspond to lower utility than points along indifference curve I2.
• C) all points along indifference curve I1 will correspond to higher utility than points along indifference curve I2.
• D) all points along indifference curve I1 will correspond to lower utility than points along indifference curve I2.

---

Definitions:

Objectively

In a manner that is not influenced by personal feelings or biases, based on factual and unbiased considerations.

Labor

The human effort, both physical and mental, used in the production of goods and services.

Positive Economics

Positive Economics is the branch of economics that deals with the description and explanation of economic phenomena, focusing on factual and cause-and-effect relationships.

Economic Variables

Quantitative measures that represent aspects of the economy or a company and can change over time, such as GDP, inflation rate, and unemployment rate.