Answer to Question #85121 in Microeconomics for Ayanda Lubisi

Question #85121
If an indifference curve is convex from above (bowed out), which of the following
statements would be true?

1. The more you have of a good, the less you desire additional units of the good.
2. The less you have of a good, the more intense your desire for more of it.
3. The more you have of a good, the more intense your desire for more of it.
4. This type of indifference curve violates the more-is-better-than-less assumption
underlying indifference curves.
1
Expert's answer
2019-02-23T14:37:07-0500

If an indifference curve is convex from above (bowed out), the more you have of a good, the less you desire additional units of the good.

So, the correct answer is 1.


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