| 11. | If two goods are perfect complements then the indifference curves will be L-shaped.
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| 12. | Indifference curves are typically numbered with the number increasing as more preferred bundles are consumed.
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| 13. | Figure 4 : Robinson Crusoe's Maximisation Problem showing his budget line and indifference curve
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| 14. | Higher the indifference curve, higher is the level of utility derived by the manager.
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| 15. | In the figure, two indifference curves for a particular good X and wealth are given.
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| 16. | The negative slope of the indifference curve incorporates the willingness of the consumer to make trade offs.
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| 17. | In 1915, Eugen Slutsky derived a theory of consumer choice solely from properties of indifference curves.
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| 18. | The consumer will choose the indifference curve with the highest utility that is attainable within his budget constraint.
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| 19. | At the budget line B2 and the indifference curve I 4, the consumer will choose X '.
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| 20. | Hence the manager would try to be on the highest level of indifference curve possible given the constraints.
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