Economics · Economics
Which of the following is NOT an assumption of indifference curve analysis?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Indifference curves are based on ordinal preferences✓
- 2Utility is cardinally measurable
- 3Consumer has full knowledge of the situations in which he/she is trading
- 4Consumer is rational
Correct answer
Indifference curves are based on ordinal preferences
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