Economics · Consumer Behavior
Given below are two statements: Assertion (A): Indifference curves can never intersect each other. Reason (R): If two indifference curves intersected, the axiom of transitivity of preferences would be violated, leading to a logical contradiction. Choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is false but (R) is true.
- 2(A) is true but (R) is false.
- 3Both (A) and (R) are true, but (R) is NOT the correct explanation of (A).
- 4Both (A) and (R) are true, and (R) is the correct explanation of (A).✓
Correct answer
Both (A) and (R) are true, and (R) is the correct explanation of (A).
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