All pairs of quantities from which a consumer derives equal satisfaction can be plotted on__________?...
ECONOMICS
JAMB 2016
All pairs of quantities from which a consumer derives equal satisfaction can be plotted on__________?
- A. An indifference curve
- B. An exceptional demand curve
- C. A budget line
- D. An isoquant map
Correct Answer: A. An indifference curve
Explanation
An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility
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