(Answered) The following are key characteristics of indifference

Economics

The following are key characteristics of Indifference Curves, EXCEPT:

Options:

-Each indifference curve identifies the combinations of X and Y where the consumer is equaly happy.

-Indifference curves are convex to the origin because X and Y are assumed to be close substitutes.

-For any combination of X and Y there is one and only one Indifference Curve.

-Indifference curves cannot logically cross between them if preferences are well defined.

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