As indifference curve shows equal level of satisfaction at all points, An isoquant shows equal level of_________ A. Input B. Commodities C. Output D. Factors

An indifference curve shows,Group of answer choicesexpenditure bundles that the consumer can afford given the prices.consumption bundles that give the consumer the same level of satisfactionconsumption bundles that give the consumer different level of satisfaction.expenditure bundles that the consumer is least willing to make.

Isoquants are downward sloping becauseGroup of answer choicesas more units of an input are used to produce a product, total cost increases.as more units of an input are used to produce a product, the firms marginal productivity increases.if more of one input is used, then less of the other input must be used to keep output constant.Both as more units of an input are used to produce a product, the firms marginal productivity increases and if more of one input is used, then less of the other input must be used to keep output constant

If there are only two goods, if more of good 1 is always preferred to less, and if less of good 2 is always preferred to more, then:Group of answer choicesindifference curves slope downwards.indifference curves slope upwards.indifference curves may cross.indifference curves could take the form of ellipses.

If the tastes of a consumer satisfy the assumption of transitivity, her indifference curves must:Group of answer choicesNot cross the axesHave a positive slopeNot cross one anotherBend toward the originAll of the above

Indifference curves illustrateGroup of answer choicesa firm's profits.the prices of two goods.a consumer's preferences.a consumer's budget.