Question: What information is contained in an indifference curve? Why are such curves (a) downward-sloping (b) Convex to the origin? Why does total utility increase as
What information is contained in an indifference curve?
Why are such curves
(a) downward-sloping
(b) Convex to the origin?
Why does total utility increase as the consumer moves to indifference curves farther from the origin? Why can’t indifference curves intersect?
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