True or false: if you are presented with a single, upward-sloping indifference curve for various bundles ofand, you can say that one of the items is a good and the other is a bad, but you cannot say which is which.

True. No matter what the curvature of a single indifference curve, there is some combination of either ( = ; = )OR( = ; = ) which can account for it, depending on what we assume about marginal (dis)utility. In the convex curve depicted below, for example, it could be that ( = h ; =

h h ), or it could be the case that ( =

h ; = h h ).

I have failed to understand this, may you draw the diagram and explain how would I approach it, thanks !