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Q: An indifference map is a collection of indifference curves that represent different levels of ..............
  • A. demand
  • B. satisfaction
  • C. supply
  • D. consumption
Correct Answer: Option B - An indifference map is a collection of indifference curves that represent different level of satisfaction. So an indifference Map refers to a set of indifference curves that reflects as understanding and gives an entire view of a consumer's choice. It is represented by a line showing all the combinations of two goods which give a consumer equal utility.
B. An indifference map is a collection of indifference curves that represent different level of satisfaction. So an indifference Map refers to a set of indifference curves that reflects as understanding and gives an entire view of a consumer's choice. It is represented by a line showing all the combinations of two goods which give a consumer equal utility.

Explanations:

An indifference map is a collection of indifference curves that represent different level of satisfaction. So an indifference Map refers to a set of indifference curves that reflects as understanding and gives an entire view of a consumer's choice. It is represented by a line showing all the combinations of two goods which give a consumer equal utility.