. True/False

1. Indifference curve approach was propounded by Alfred Marshall.
2. The law of Diminishing marginal utility is based on Cardinal Utility.
3. Indifference curve always slopes upward to the left.
4. A higher indifference curve represents lower level of satisfaction.
5. Monopoly and monopolistic competition are synonymous to each other.
6. Capital, Entrepreneur, Land and Labor are 4 factors of productions in economy.