[amp_mcq option1=”Inrespect of substitute goods” option2=”Inrespect of complementary goods” option3=”Inrespect of inferior goods” option4=”None of these” correct=”option4″]<\/p>\n
The correct answer is: D. None of these<\/strong><\/p>\n An indifference curve is a graph that shows all the combinations of goods that provide the same level of satisfaction to a consumer. Indifference curves are typically downward-sloping, indicating that consumers prefer to have more of both goods. However, indifference curves can also be L-shaped, which occurs when two goods are perfect complements.<\/p>\n Perfect complements are goods that are always consumed together in fixed proportions. For example, a right-handed person will not be satisfied with one glove, and a left-handed person will not be satisfied with two gloves. In this case, the consumer will only be indifferent between combinations of goods that contain one right glove and one left glove. This can be represented by an L-shaped indifference curve.<\/p>\n It is important to note that indifference curves are not always L-shaped. Indifference curves can be any shape, depending on the preferences of the consumer. However, L-shaped indifference curves are a special case that occurs when two goods are perfect complements.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”Inrespect of substitute goods” option2=”Inrespect of complementary goods” option3=”Inrespect of inferior goods” option4=”None of these” correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-55746","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"\n