Asked by BRANDI PRINCE on Jun 28, 2024

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Higher indifference curves represent:

A) less utility than lower indifference curves.
B) more utility than lower indifference curves.
C) the same level of utility as lower indifference curves.
D) unknown levels of utility compared to lower indifference curves.

Indifference Curves

Graphical representations in economics showing different combinations of two goods that provide equal satisfaction and utility to an individual.

Utility

A financial concept that denotes the overall pleasure obtained from using a product or service.

  • Expound on the correlation between elevated indifference curves and higher utility measures.
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Verified Answer

JD
Justin DosterJun 29, 2024
Final Answer :
B
Explanation :
Indifference curves represent different combinations of two goods that provide the same level of utility to the consumer. Since higher indifference curves represent combinations that provide more utility to the consumer, the answer is B- more utility than lower indifference curves.