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What is indifference curve approach?

indifference curve approach show the combination of two goods that an individual would be willing to buy, and which would make the buyer equally satisfied (or different). indi (MORE)

Do indifference curve meet?

Indifference curves are the graphical representation of the preferences of an individual. In microeconomics there are three assumptions about preferences in order for them to (MORE)

Why indifference curve is convex to origin?

Indifference curve is convex to the origin.This means that the slope of indifference curve decreases as we move the curve from left to right.This can be explained in terms of (MORE)

Why indifference curve cannot intersect?

Because if they intersected, they would not be "indiffernece" curves. Imagine two intersecting ICs, call them x and y. That means that all points on y have the same utility. A (MORE)

What are indifference curves explain it using a graph?

o Indifference curves are curves that have a negative slope and are bowed inward. Each point on the line has the same exact util value. In other words, a person would be the (MORE)

Describe the characteristics of indifference curve?

Properties/Characteristics of Indifference Curve:    Definition, Explanation and Diagram: An indifference curve shows combination of goods between which a person is indiff (MORE)

What is indifference Curve?

indifference curve is the graphical representation of the bundles of commodities for a given income level or budget that yields equal satisfaction at all the points.
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What is shape of indifference curve?

what will be the shape of indifference curve if one of the two goods is a free commodity
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Book Spotlight - In Memory: A Tribute to Sir Terry Pratchett

In March 2015 we lost one of the world's greatest literary minds - Sir Terry Pratchett. Terry was suffering from Alzheimer's and fiercely campaigned to raise awareness of the (MORE)
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