Why do indifference curves slope down?
Question:
Why do indifference curves slope down?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
Indifference curves slope down because of the law of diminishing marginal utility This law states that the additional satisfaction a consumer gets fro...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Business Application: Valuing Land in Equilibrium: Suppose we consider a Robinson Crusoe economy with one worker who has preferences over leisure and consumption and one firm that uses a constant...
-
A vessel with a constant volume contains at a certain temperature an equilibrium mixture consisting of six moles of sulfur trioxide, four moles of nitrogen monoxide, one mole of nitrogen dioxide and...
-
Kevin reported several tax preference items in taxable income in 2019. The normal federal tax in 2019 was $35,000 and the alternative minimum tax (AMT) was $52,000. In 2020 Niko earned only...
-
Prepare adjusting journal entries, as needed, considering the account balances excerpted from the unadjusted trial balance and the adjustment data. A. amount due for employee salaries, $4,800 B....
-
Comparative balance sheets for Molini Company are presented below. Additional information: 1. Net income for 2011 was $125,000. 2. Cash dividends of $60,000 were declared and paid. 3. Bonds payable...
-
In general, what does the graph tell us about how the various starting salaries are distributed between the females and males.
-
The magnitude of the osmotic pressure depends on the (a) Temperature (b) Gibbs' free energy (c) Nature of the semi-permeable membrane (d) Entropy.
-
The following data are for the two products produced by Aplan Company. The company's direct labor rate is $20 per direct labor hour (DLH). Additional information follows. Required 1. Compute the...
-
can you help me draw an AS IS diagram and TO BE diagram 2. Model Ontario Vaccine Passports issuance and validation process and generate the "AS IS" process diagram using the BPMN 2.0 notation (see...
-
Why are indifference curves steep on the left and flatter on the right?
-
What point is preferred along an indifference curve?
-
List and explain the internal factors affecting job satisfaction.
-
Claris Inc. is an advertising agency that is pitching for a new account at the baby food company Baby Bright. The agency has never held any previous account in this business and has no idea what the...
-
Discuss the comparative advantages and disadvantages of using emotional appeal and logical appeal.
-
When individuals take up a position in an organization, sometimes the organization does not offer the best induction and training for the role offered. This means that the individual must learn how...
-
Our company is currently facing a crisis over some negative reports appearing in the local press. Our current PR agency seems ill-equipped to handle this crisis and we are currently looking for a...
-
You work for a business with small offices in eight countries around the world. Meetings are usually facilitated via Skype, but other online communication and collaboration is a problem. Three months...
-
Required a. In parallel columns, list the accounts that would be debited and credited for each of the following unrelated transactions: (1) Provided services for cash. (2) Recognized accrued salaries...
-
The Place-Plus real estate development firm in Problem 24 is dissatisfied with the economists estimate of the probabilities of future interest rate movement, so it is considering having a financial...
-
All Temps has a policy of always paying within the discount period, and each of its suppliers provides a discount of 2% if paid within 10 days of purchase. Because of the purchase policy, 80% of its...
-
Artic Camping Gears currently sells 35,000 units at $73 per unit. Its expenses are as follows: Management believes it can increase sales by 2,000 units for every $5 decrease in sales price. It also...
-
Sports Socks has a policy of always paying within the discount period and each of its suppliers provides a discount of 2% if paid within 10 days of purchase. Because of the purchase policy, 85% of...
-
Use the May 31 fiscal year-end information from the following ledger accounts (assume that all accounts have normal balances). General Ledger Retained Earnings Date May 31 PR Debit Account Number 318...
-
At the beginning of April, a company has a balance of $12,800 in the Retained Earnings account. During the month of April, the company had the following external transactions. Required: Using the...
-
Hurst, Inc. sold its 8% bonds with a maturity value of $9,000,000 on August 1, 2019 for $8,838,000. At the time of the sale the bonds had 5 years until they reached maturity. Interest on the bonds is...
Study smarter with the SolutionInn App