Which of the Following Is Not a Characteristic of Indifference

question 68

Multiple Choice

Which of the following is not a characteristic of indifference curves?

• A)They are negatively sloped.
• B)They never intersect.
• C)They are concave toward the origin.
• D)Combinations of goods that include more of both goods are preferred, on a higher indifference curve.

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Definitions:

AFC

Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.

Total Variable Cost

The sum of all costs that vary directly with the level of production or output, such as materials and labor.

Total Fixed Cost

the sum of all costs that remain constant regardless of the level of production or business activity.

Weekly Cost

Expenses calculated on a weekly basis, tracking the regular outflow of cash for operations or living expenses.