Consider the following statements regarding the core properties of an Indifference Curve: 1. It always slopes downwards from left to right. 2. It is strictly concave to the origin. 3. Two distinct indifference curves can never intersect each other. Which of the statements given above are correct?

Correct answer: 1 and 3 only

Explanation: ✅ Correct Answer: C) 1 and 3 only 📚 Explanation: An indifference curve represents various combinations of two specific goods that yield the exact same level of total satisfaction to a consumer. It inherently slopes downwards from left to right, and two separate curves can never intersect because that would violate the logical axiom of transitivity. Furthermore, a standard indifference curve is convex, not concave, to the origin strictly due to the principle of diminishing marginal rate of substitution.