Which are the three main assumptions of indifference curves? Please do the comparison with each other.

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: Consider the following indifference curves. MRS =-1 U4 U2 U3 UI Suppose the price of X is $1.50 per…

A: This is a ‘consumer choice’ problem. This principle of rational choice allows one to derive the…

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: 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: (b) Examine the validity of the following statements, giving reasons: (i) If a person consumes two…

A: When a person is consuming two commodities and both of the commodities are undesirable, it means…

Q: Show that indifference curves are (a) convex to the origin (b) cannot intersect one another? What…

A: An indifference curve is a combination that represents the number of goods and services which…

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?

A:

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: 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: Determine which, if any, of Properties 4–1 through 4–4 are violated by the indifference curves shown…

A: An indifference curve is a graph showing combinations of two goods that give the consumer equal…

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: Which indifference curves violate the assumption of monotonicity? U3 only. U1 and U3. U1, U3 and U4.…

A: The assumption of monotonicity is that the indifference curve is negatively sloped. If the…

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

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

Q: Differentiate between isoproduct curves and indifference curves

A: The term ISO quant was used by R. frisch

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: Provide the critic of the cardinal utility and justify how the ordinal or indifference theory is…

A: A cardinal utility depicts that the welfare of an economy can be directly be given a value as it is…

Q: Consider the following indifference curves. UI U3 U4 U2 A tangency solution is never possible in the…

A: A tangency condition is when the budget line touches the indifference curve at some point. The…

Q: Use a general utility function and general prices and income to derive the equal marginal principle.…

A: Utility is the want satisfying power of a commodity. A utility function measures the preferences of…

Q: Slope of Indifference curve is convex to origin because of Select one: a. MRS is vertical Ob. MRS is…

A: Indifference curve is the locus of points showing different combinations of two commodities, which…

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: What is an indifference curve? Also elaborate its different possibilities under the different…

A: The indifference curve is the curve which shows the different combination and bundle of two goods…

Q: Briefly explain why the indifference curve is downward sloping

A: According to the consumer's theory, an individual maximizes his utility by consuming at a point…

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: Which one is not a assumption c the theory of demand based on analvsis of indifference curves?

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

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

A:

Q: Explain graphically how indifference analysis can be used to derive a demand curve.

A: A demand curve can be explained as the curve which shows the quantity of goods that can be purchased…

Q: Explain why crossing indifference curves would lead to a logical inconsistency.

A: Indifference curves: Indifference curves show the various combinations of two goods that allow for…

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: 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: What are the two basic differences between utility analysis and indifference curve analysis?

A: According to the given question the two basic difference between the indifference curve analysis and…

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: 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: 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: The convex shape of indifference curve is dur to _______ marginal rate of Substitution

A: # Indifference curve is the locus of points which shows the combination of two goods which makes the…

Q: An indifference curve is also known as___________.

A: Indifference curve - It is a graph that depicts the combination of two goods where at every point…

Q: Define indifference curve .

A: Utility refers to the want satisfying power of a commodity. The two approaches used to measure…

Q: In your own words, explain what indifference curves are. Give 4 properties of indifference curves.

A: (Q) In your own words, explain what indifference curves are. Give 4 properties of indifference…

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: Enumerate at least five interpretations of the graph of the Marginal Utility curve

A: Marginal Utility refers to the additional utility derived from the consumption of an additional unit…

Q: Indifference curve is vital in explaining the ordinal approach, yet is criticized on the various…

A: The theory of indifference curve analysis was explained by hicks and Allen. According to this theory…

Q: ence curve and Discuss the properties of Indifference curv

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

Q: The indifference curve for U=min(5x,4y) will be Select an answer and submit. For keyboard…

A: As Given utility function is U=min(5x,4y)