Question

"Higher indifference curve represents fewer quantities of one or both goods, a higher indifference curve shows higher utility level." Choose the correct option for the above mentioned statement:

Options

• True

• False

• Partially false

• Partially false

Answer 1

False

Explanation:

When a company has a monopoly, it confronts a downward-sloping demand curve from left to right. It means that a monopoly corporation can only sell more at a cheaper price.