Why is an indifference curve convex to the origin?
(A) Indifference curve slope downward to the right
(B) Two commodities are imperfect substitutes
(C) Declining marginal rate of substitution between commodities
(D) Diminishing marginal utilities
Choose the most appropriate answer from the options given below:
- A and B only
- B and C only
- C and D only
- A and D only
Answer
Option 2 : B and C only
Why are indifference curves convex
