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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Why do indifference curves slope down?

To determine

To state: the reason for the downward Slope of an Indifference curve.

Explanation

An indifference curve is negatively downward sloping. It slopes left to right downward and convex towards the origin. The primary reason behind the shape of the indifference curve is the marginal rate of substitution (MRS). Suppose there are two goods ‘x’ and ‘y’. Good x is on X-axis and good Y is on Y-axis...

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