Which of the Following Is NOT a Property of Indifference

question 68

Multiple Choice

Which of the following is NOT a property of indifference curves?

• A) Indifference curves are thin.
• B) Indifference curves may slope upward or downward.
• C) Indifference curves from the same family never cross.
• D) A consumer prefers to be on the indifference curve that is farthest from the origin.

---

Definitions:

Marginal Resource Cost

Marginal resource cost refers to the additional cost incurred by employing one more unit of a resource, such as labor or capital, in production.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource or factor of production.

Employment

The condition of having paid work; the extent to which available labor resources are being utilized in the economy.

MRP of Labor Curve

The Marginal Revenue Product (MRP) of Labor curve reflects the additional revenue generated from employing one more unit of labor, assuming all other factors remain constant. It's crucial for determining how many workers to hire.