Intersecting indifference curves

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Reference no: EM1333314

Confirm that each of the following statements is true or false. Explain why.

A. Intersecting indifference curves would reflect a violation of the "more is better" principle.

B. Indifference curves must have positive slope.

C. Higher indifference curves are better.

D. The law of diminishing marginal utility gives indifference curves a bowed outward, or convex to the origin, appearance.

E. Indifference curves represents all market baskets that provide a given consumer the same amount of utility or satisfaction.

Reference no: EM1333314

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