CUET-PG 2023 Shift 1 Question 40: Consumer preferences and utility
Match List-I with List-II:
List-I: (A) The shape of an indifference curve for two bads; (B) The shape of an indifference curve for one good and one bad; (C) The shape of an indifference curve for one good Y and one neutral X; (D) The shape of an indifference curve for one bad Y and one neutral X
List-II: (I) Horizontal, parallel to X-axis, utility rises as move to a lower indifference curve; (II) Concave to the origin; (III) Upward sloping; (IV) Horizontal, parallel to X-axis, utility higher for a higher indifference curve
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Consumer preferences and utility has come up 93 times in 7 exams since 2007.
What this question tests
This question is on Indifference curves and their properties, part of Consumer preferences and utility in Microeconomics.
What indifference curves look like for goods, bads and neutrals, and why they slope down and never cross.
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