The following are key characteristics of Indifference Curves, EXCEPT:
Options:
-Each indifference curve identifies the combinations of X and Y where the consumer is equaly happy.
-Indifference curves are convex to the origin because X and Y are assumed to be close substitutes.
-For any combination of X and Y there is one and only one Indifference Curve.
-Indifference curves cannot logically cross between them if preferences are well defined.