An indifference curve represents bundles of goods that a consumer (choose all correct answers):

Question

BlackTom AI · Accepted Answer

Exploring what an indifference curve represents requires focusing on the concept of utility equivalence across bundles.
Option a: 'Refers to any other bundle of goods' — This is not accurate. An indifference curve does not imply that every other bundle is the same; it shows a set of bundles that are equally preferred, not every possible bundle. 
Option b: 'Ranks from most preferred to least preferred' — This is incorrect. Indifference curves on their own indicate equal desirability among the bundles on the curve, not a ranking from best to worst. A separate preference ordering would be needed to rank bundles beyond the equality on a single curve. 
Option c: 'Views as equally affordable' — This is not the defining property. Affordability relates to the budget constraint and prices, not to the consumer’s level of satisfaction across bundles on an indifference curve. An affordable bundle lies on or inside the budget; the curve itself just captures equal utility, irrespective of price. 
Option d: 'Views as equally desirable' — This is the correct characterization. All bundles on the same indifference curve provide the same level of satisfaction (utility) to the consumer, hence they are equally desirable.

An indifference curve represents bundles of goods that a consumer (choose all correct answers):

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