Question: TRUE OR FALSE TRUE OR FALSE [10 points each]: 1. Higher indifference curves yield higher utility. 2. Left shoes and rights shoes are perfect complements,

TRUE OR FALSE

TRUE OR FALSE [10 points each]: 1. Higher indifference curves yield higher utility. 2. Left shoes and rights shoes are perfect complements, thus, their indifference curve is a downward sloping straight line. 3. Indifference curves are downward sloping since preferences are transitive. 4. The optimal point of consumption is the bundle of goods that will give the consumer the highest level of savings. Continue to next page

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