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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Explain why indifference curves

  1. a. are downward sloping.
  2. b. are convex to the origin.
  3. c. do not cross.

(a)

To determine

Explain why the indifference curves are downward sloping.

Explanation

The indifference curves have certain characteristics; the downward sloping shape of it is one among them. A downward sloping curve indicates that the indifference curves are negatively sloped. The reason is that a consumer is willing to give ...

(b)

To determine

Explain why the indifference curves are convex to the origin.

(c)

To determine

Explain why the indifference curves do not intersect each other.

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