What are the features of an Indifference Curve?

(A) Indifference curve slopes upwards from left to right.

(B) Higher indifference curve gives greater level of utility.

(C) Indifference curve slopes downwards from left to right

(D) Two indifference curves never intersect each other

Choose the correct answer from the options given below:

Option 1 -> Includes statement (A) which is incorrect as indifference curves slope downwards, not upwards.

Option 2 -> Includes statement (A) which is incorrect as indifference curves slope downwards, not upwards.

Option 3 -> Includes statement (A) which is incorrect as indifference curves slope downwards, not upwards.

Option 4 -> Contains only correct statements: (B) Higher IC gives greater utility, (C) IC slopes downward left to right due to trade-off between goods, and (D) ICs never intersect to maintain consistency of preferences.

Hence, Option 4: (B), (C) and (D) only -> Statement (A) is false because indifference curves slope downwards, not upwards, reflecting the substitution between two goods at constant utility. Statement (B) is correct as higher indifference curves represent higher satisfaction levels. Statement (C) is correct showing the negative relationship between two goods on the same utility level. Statement (D) is correct because intersecting indifference curves would violate the transitivity axiom of consumer preferences, creating logical inconsistencies -> correct