13. If Point X and Point Y are on the same indifference curve: a) The bundle rep

Question

13. If Point X and Point Y are on the same indifference curve:

a) The bundle represented by point X is preferred to the bundle represented by point Y
b) The bundle represented by point X is equally preferred to the bundle represented by point Y c) The bundle represented by point Y is preferred to the bundle represented by point X
d) It is not possible to tell which bundle is preferred

# of Sodas

14. If Point X is on a higher indifference curve than Point Y:

a) The bundle represented by point X is preferred to the bundle represented by point Y
b) The bundle represented by point X is equally preferred to the bundle represented by point Y c) The bundle represented by point Y is preferred to the bundle represented by point X
d) It is not possible to tell which bundle is preferred

Explanation / Answer

13. b) The bundle represented by point X is equally preferred to the bundle represented by point Y

14. a) The bundle represented by point X is preferred to the bundle represented by point Y

An indifference curve is convex to the origin and downward sloping. Points on same IC represent bundles of the same utility. While an IC higher or in right to original IC shows higher utility.

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