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The following assumption(s) is/are true regarding indifference curves: A.Each and every consumption basket lies on only one indifference curve. B.Indifference curves have a negative slope

  • The following assumption(s) is/are true regarding indifference curves:
  • A.Each and every consumption basket lies on only one indifference curve.
  • B.Indifference curves have a negative slope if a consumer likes both goods.
  • C.Indifference curves cannot intersect.
  • D.If two goods are perfect complements, the indifference curves are L-shaped.
  • E.All of the above.

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