Explain why non-convex indifference curve has a corner solution instead of interior solution?

Q: Given the table below, draw the indifference curve and find the slope between point B and C.

A: The curve that represents different quantities of goods that help in providing the consumer with the…

Q: Write down and explain the four properties of indifference curve. Provide adequate graphs.

A: A consumer maximizes his utility by consuming at a point where the indifference curve of the…

Q: At each point on an indifference curve:             total utility is the same.             the…

A: The indifference curve analysis is based ordinal measurement of utility.  Ordinal measurement of…

Q: Consider the following indifference curves. U1 U3 U4 U2 Which indifference curves violate the…

A: Convexity of indifference curves imply averages are preferred over extremes.  It implies that…

Q: State the reason that why indifference curves never intersect each other. Furthermore, why higher…

A: An indifference curve shows the various combinations of two goods that give the consumer equal…

Q: Why Indifference curve of a rational consumer cannot be parallel to x-axis and y-axis?

A: Indifference curve shows the different possible combination of two goods that gives the same level…

Q: Write down and explain the four properties of indifference curve.provide adequate graphs

A: The indifference curve shows various combinations of two goods that give the same level of utility…

Q: What information is contained in an indifference curve? Why are such curves:      Downward sloping…

A: We will answer the first question since the exact one was not specified. Please resubmit the…

Q: Briefly explain the difference between indifference curve and iso-quant curve and similarly between…

A: In microeconomics, two main areas of study are consumer theory and production theory. Indifference…

Q: Why do we expect that indifference curves will never cross?

A: The economics as a study is based upon the idea that the economies, or the societies around the…

Q: Can indifference curves be thick? The figure to the right shows a thick indifference curve Relative…

A: The indifference curve is the combination of different bundles of two goods. All these bundles give…

Q: indifference curve

A: Indifference curve (IC) is the locus of various combinations of commodities yielding same utility.…

Q: What are the features or properties of the INDIFFERENCE CURVE in economy?

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Q: Define the indifference map for an individual.

A: The want satisfying power of a commodity is termed as the utility. As a consumer consumes a good…

Q: what is satiation point? And how it is helpful in deriving indifference curve

A: An indifference curve shows various combination of two goods that give same level of utility to a…

Q: Explain why most indifference curve are convex??

A: In economics the indifference curve is usually denoted as the contour line merely where the value of…

Q: Q) U = xy and y = x(1+y) Are points (1,9) and (5,1) on the same indifference curve？   Explain it…

A: An Indifference curve represents different combinations of two goods ( say , good X and good Y )…

Q: MRS is constant along a linear indifference curve.

A: The 'marginal rate of substitution' along an indifference curve is given by  MRS=-MUxMUy

Q: Explain the difference between indifference curve and iso-quant curve and similarly between budget…

A: Utility refers to the benefits that an individual derives from the consumption of goods and…

Q: J 4 a. Define an Indifference Curve (IC)

A: In today's microeconomics, indifference curves are utilised to show consumer preferences and…

Q: Define the indifference curve. Define the indifference map for an individual.

A: The indifference curve is one of the important aspects of consumer demand theory. It is used to…

Q: “Pertaining to different good characteristics; it is possible to distinguish between three different…

A: A graphical representation of a combination of products that gives a consumer a similar level of…

Q: What can be the implications of a positively sloping indifference curve?

A: Indifference curves are those curves that represent combinations of two goods that give the same…

Q: Which of the following is not the property of indifference curves? a. Indifference curve is downward…

A: (Q) Which of the following is not the property of indifference curves?   a. Indifference curve is…

Q: Why indifference curves never intersect. Prove graphically?

A: IC(indifference curve) shows us the various combination of two products/goods where the buyer is…

Q: Explain the derivation of the demand curve of a consumer using the indifference curve theory.

A: At the utility-expanding arrangement, the consumer's marginal pace of replacement (the total worth…

Q: Consider the following equation for an indifference curve: y = 20/x. At point A (2, 10), the MRS is?

A: Given data: The equation for indifference curve is y=20x Point is A2, 10

Q: Explain how indifference curves can never cross.

A: Indifference curves can never cross each other. We can explain this with the help of the two axioms…

Q: e marginal rate of substitution measures the distance between one indifference curve and tne •True

A: Marginal Rate of Substitution : The Marginal Rate of Substitution can be defined as the amount of…

Q: ) what do you mean by budget constraints, indifference curve and indifference map? What are the…

A: Budget constraint is defined as the possible combinations of the consumption which one can afford…

Q: How to explain indifference curve and also describe the properties of indifference curve?

A:

Q: Why is it impossible for two indifference curves to intersect one another?

A: Indifference curves show various combinations of goods between which the consumers are indifferent.…

Q: Which are the three main assumptions of indifference curves? Please do the comparison with each…

A: Indifference curve: It refers to curve that shows the combination of two goods that a consumer can…

Q: X a e b d

A: Here, the given figure provide information about the budget line and three indifference curves.

Q: A convex indifference curve implies what type of behavior? diminishing marginal utility…

A: Indifference curve are defined as the locus of the points with same utility level at each point.

Q: How do we decide the amount we buy on the indifference curve? MU1/P1 = MU2/P2 %3D MU1/P1 = P2 MU1/P2…

A: Indifference curve shows the combinations of goods that give consumer the same level of…

Q: Show that an indifference curve     a Cannot be thick (cannot have positive thickness, rather than…

A: Indifference curve refers to the different combinations of two commodities that the consumer can…

Q: Define Indifference Curve. Explain properties of Indifference Curve with the                help of…

A: Indifference Curve: An indifference curve represents various combinations of two commodities that…

Q: Describe the main characteristics of indifference curve.

A: Microeconomics studies the economic behavior of individual units such as a firm, a market, a…

Q: Draw Shahab’s Indifference curves for Pizzas and Pepsi Cans. What does the slope at any point on…

A:

Q: Which of the following is NOT true about indifference curves? O They are downward sloping O They do…

A: An Indifference curve is a locus of the combination of all the points that represent a different…

Q: ist and briefly explain each of the four properties of indifference curves. Provide an example where…

A: indifference curves are made/predicated on several assumptions, including that each indifference…

Q: Q-: Define indifference curve and elaborate different varieties/types of indifference curve

A: An indifference curve shows a combination of two goods or services that provide the consumer with…

Q: MRS is constant along a linear indifference curve

A: An indifference curve is a curve that represents the combination of two goods that give a consumer…

Q: n indifference curve,

A: In the given case, Angela has rejected an offer considering fairness of work. This is an additional…

Q: U = xy    and y = x(1+y) Are points (1,9) and (5,1) on the same indifference curve？

A: Utility curve shows the different possible combination of two goods that gives same level of…