Indifference Curve Analysis

Which economist has developed the concept of Indifference Curve Analysis?

• J.R. Hicks

• R.J.D. Allen

• Marshall

• Both J.R. Hicks and R.J. D. Allen

The slope of the indifference curve is equal to which of the following?

• One

• Marginal utility

• Marginal rate of substitution

• None of these

As we move down the indifference curve from left to right, the slope of the indifference curve tends to which of the following?

• Unity

• Zero

• Decline

• Rise

In the indifference map, a higher IC indicates which of the following?

• Lower level of satisfaction

• Higher level of satisfaction

• Same level of satisfaction

• Either higher or same level of satisfaction

An indifference curve is related to which of the following?

• Choices and preferences of consumer

• Prices of goods X and Y

• Consumer’s income

• Total utility from goods X and Y