Which of the Following Is a Property of Indifference Curves

question 35

Multiple Choice

Which of the following is a property of indifference curves?

• A) indifference curves have positive slopes
• B) indifference curves that cross are helpful in explaining differences in consumption choices
• C) indifference curves are usually bowed in toward the origin
• D) indifference curves are always linear and downward-sloping

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Definitions:

Security Interest

A legal claim or encumbrance on property or assets, securing the payment of a debt or performance of some other obligation.

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay.

Perfected Interest

A legal claim or lien that has been formally established to secure priority over other claims concerning the same asset or property.

Repossession

The process by which a creditor takes back property from the borrower, due to failure to make required payments.