Refer to the diagram in which the downsloping lines are budget lines and I 1 , I 2 , and I 3 comprise an indifference map. The combinations of products M and N indicated by points 1, 3, and 5 are such that:
A. all three imply the same level of utility.
B. 1 and 5 imply a higher level of utility than does 3.
C. 3 implies a higher level of utility than does 1 or 5.
D. the person is indifferent among the three combinations.
C. 3 implies a higher level of utility than does 1 or 5.
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Indicate whether the statement is true or false
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