Question

Consider the following statements about indifference curves: 1. Indifference curves are convex to the origin. 2. Higher indifference curve represents higher level of satisfaction. 3. Two indifference curves cut each other. Which of the statements given above is/are correct?

A 1 only
B 1 and 2
C 2 and 3
D 3 only
E None of these
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