Economics · Consumer Behavior and Indifference Curve Analysis

Regarding the core geometrical properties of Indifference Curves (ICs) in the ordinal approach, consider the following statements: A. Indifference curves are negatively sloped, which implies that a consumer must reduce the consumption of one good to increase the consumption of another while maintaining the same level of satisfaction. B. The convexity of an indifference curve to the origin is a direct consequence of the principle of the diminishing marginal rate of substitution (MRS). C. Two indifference curves cannot intersect each other because such an intersection would violate the logical consistency of consumer preferences. D. In an indifference map, curves that are located closer to the origin represent higher levels of total satisfaction for the consumer compared to curves situated further away. Choose the most appropriate answer from the options given below: