Indifference Curve

Indifference Curve

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In microeconomic theory, an indifference curve is a graph showing different bundles of goods between which a consumer is indifferent. That is, at each point on the curve, the consumer has no preference for one bundle over another. One can equivalently refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. Utility is then a device to represent preferences rather than something from which preferences come. The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity bundles.show more

Product details

  • Paperback | 72 pages
  • 152 x 229 x 4mm | 118g
  • Spir
  • United States
  • English
  • black & white illustrations
  • 6136213249
  • 9786136213248