Question
An indifference curve measures the same level of
Answer: Option C
Answer: (c)
An indifference curve is a locus of combinations of goods which derive the same level of satisfaction so that the consumer is indifferent to any of the combinations he consumes.
If a consumer equally prefers two product bundles, then the consumer is indifferent between the two bundles. The consumer gets the same level of satisfaction (utility) from either bundle.
In other words, an indifference curve is the locus of various points showing different combinations of two goods providing equal utility to the consumer.
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Answer: (c)
An indifference curve is a locus of combinations of goods which derive the same level of satisfaction so that the consumer is indifferent to any of the combinations he consumes.
If a consumer equally prefers two product bundles, then the consumer is indifferent between the two bundles. The consumer gets the same level of satisfaction (utility) from either bundle.
In other words, an indifference curve is the locus of various points showing different combinations of two goods providing equal utility to the consumer.
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