On another set of axes, sketch three community indifference curves, making the top two curves cross each
Question:
(a) Why have you drawn community indifference curves downward, or negatively, sloped?
(b) What does the slope of the curves measure? Why is the slope of each curve smaller for lower points?
(c) Which of the two intersecting indifference curves shows a greater level of satisfaction to the right of the point of intersection? To the left? Why is this inconsistent with the definition of indifference curves? What conclusion can you reach?
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a We have drawn community indifference curves as downward or negatively slope...View the full answer
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