Question: 2- Utility Theory LEARNING OBJECTIVE: Determine a consumer's preference from using indifference curves and the law of diminishing returns. 20 T-shirts 16 12 8

2- Utility Theory LEARNING OBJECTIVE: Determine a consumer's preference from using indifference

curves and the law of diminishing returns. 20 T-shirts 16 12 8

2- Utility Theory LEARNING OBJECTIVE: Determine a consumer's preference from using indifference curves and the law of diminishing returns. 20 T-shirts 16 12 8 4 2 4 6 8 10 12 14 16 Indifference Curve 2 Indifference Curve 1 Sweatshirts Using the graph above, which of the following is true concerning Indifference Curves 1 and 2?

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