Questions: Refer to the above figure. Which point(s) represents the lowest level of utility? Point A only Point C only Points A C Point B

Refer to the above figure. Which point(s) represents the lowest level of utility? Point A only Point C only Points A C Point B
Transcript text: Refer to the above figure. Which point(s) represents the lowest level of utility? Point A only Point C only Points A \& C Point B
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Solution

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Solution Steps

Step 1: Identify the Indifference Curves

Indifference curves represent different levels of utility. The further away from the origin, the higher the level of utility.

Step 2: Locate the Points on the Indifference Curves

Identify the positions of points A, B, C, and D on the indifference curves. Point C is on the curve closest to the origin, followed by A, B, and D.

Step 3: Determine the Lowest Utility Level

The point on the indifference curve closest to the origin represents the lowest level of utility. In this case, it is Point C.

Final Answer

Point C only

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