Indifference curve will be a right angled straight line only when the goods are _________.

perfectly complementary to each other

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close substitute

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totally unrelated

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none of the above

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Solution

The correct option is A perfectly complementary to each other
A perfectly complementary product would be a pair of goods which has to be consumed together. A perfect example would be that of a sim card and a mobile device.

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Q. Indifference curves cannot be a straight line as it would imply __________.

A consumer consumes only two goods. If the price of one of the goods falls, what happens to the indifference curve?

a. Shifts upwards

b. Shifts downwards

c. Can shift both upwards or downwards

d. Does not shift

Q. Goods

X

and

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are perfect substitutes. A consumer's indifference curve for these commodities is represented by a ______.

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Indifference curve will be a right angled straight line only when the goods are _________.

The correct option is A perfectly complementary to each otherA perfectly complementary product would be a pair of goods which has to be consumed together. A perfect example would be that of a sim card and a mobile device.

The correct option is A perfectly complementary to each other
A perfectly complementary product would be a pair of goods which has to be consumed together. A perfect example would be that of a sim card and a mobile device.