In Terms of Indifference Curves, an Increase in Total Utility

question 74

Multiple Choice

In terms of indifference curves, an increase in total utility is represented by a:

• A) shift to the right to a higher indifference curve.
• B) shift to the left to a lower indifference curve.
• C) movement upward along an indifference curve.
• D) movement downward along an indifference curve.

---

Definitions:

Perceptual Defence

The tendency for the perceptual system to defend the perceiver against unpleasant emotions.

Framing

Aspects of the presentation of information about a problem that are assumed by decision makers.

Confirmation Bias

The tendency to seek out information that conforms to one’s own definition of or solution to a problem.

Economic Person

A concept in economics and sociology that describes an individual who acts in a rational manner, making decisions based on maximizing personal financial gain.