Properties of an Indifference curve:
1. Indifference curves slope downs to the right.
2. Indifference curves are convex to the source.
3. No two indifference curves can yet cut each other.Each indifference curves slope downs from left to right. The downward slope of indifference curve should be attributed to the fact that the consumer in replacing good X by good Y raises the amount of Y and decreases the amount of X. When the indifference curves were horizontal line running parallel to X axis then the combination that it symbolizes has similar amount of Y however more and more of X. In that situation the satisfaction from the combination will not be equivalent. For similar reason, it can be said that indifference curve will not be vertical.
All indifference curves are convex to the source. This is since of the operation of a principle termed as ‘Diminishing Marginal Rate of Substitution’. The indifference curves depend on this principle. When they are concave to the source, then it will mean that MRS is rising. Indifference curve can’t be straight line except whenever the goods are perfect substitutes.
Figure: Indifference curves slopes downwards
Marginal rate of replacement among X and Y refers to the amount of commodity Y to be provided in exchange for one unit of X commodity. The MRS goes on retreating as consumer goes on replacing X for Y.
The third supposition is that no two indifference curves can ever cut each other. However in figure below we discover that two indifference curves do cut each other.
Figure: No two indifference curves intersect each other
Point A that is on indifference curve 2 symbolizes a higher level of satisfaction to the consumer than at point B that is on indifference curve 1. However point C lies on both curves. That means, two levels of satisfaction A and B that are unequal have become equivalent. That can’t be accepted. Therefore indifference curves can never cut each other.
These are the three suppositions about the shape of indifference curve.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Theory of Consumer Behavior help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Theory of Consumer Behavior, project ideas and tutorials. We provide email based Theory of Consumer Behavior help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Theory of Consumer Behavior. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Theory of Consumer Behavior. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
the third generation computers were come into existence in the year 1964. they employed integrated circuits (ics) in it.
the digital x-ray machine contains an x-ray tube and driver to source x-ray. the x-ray passes by the body of the patient and the digital camera (situated on another side of the patient) takes the resulting image.
Tissues-Organs and Systems tutorial all along with the key concepts of Plant Tissues, Meristematic Tissue, Parenchymatous Tissue, Collenchyma Tissue, Xylem, Phloem, Animal Tissues, Organs of plants and animals, Systems, Circulatory System, Digestive System
Interactions within Ecosystems tutorial all along with the key concepts of Types of Interactions, Predator-Prey Interaction, Symbiotic Interactions, Competition, Interspecific Competition and Intraspecific Competition
One way in which long-term performance can be rewarded is through the granting of directors’ share options. This sort of reward though has provoked considerable controversy.
a radar system contains a transmitter which produces radio waves. while they come into contact along with an object they are spread in all directions.
si prefixes tutorial all along with the key concepts of grammatical rules for representing the si units, conversion, detailed requirements and conversion factors
Socio-cultural Anthropology Assignment Help offer reliable and top-quality papers with a great balance of affordability and professionalism.
Theory and lecture notes of Systems of Inequalities all along with the key concepts of Graph of an Inequality, Sketching an Inequality in Two Variables, Solving a System of Inequalities and Determining the System from Graph. Tutorsglobe offers homework help, assignment help and tutor’s assistance on ystems of Inequalities.
Secure top-notch grades with Mass Communication Assignment Help service from qualified and experienced tutors at viable prices.
tutorsglobe.com mechanism of stimulation assignment help-homework help by online tongue tutors
Theory and lecture notes of Fiscal Policy-Automatic Stabilizers all along with the key concepts of Rules vs. Authorities, Competence and Objectives, Political Business Cycle , Central Bank Independence. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Fiscal Policy-Automatic Stabilizers.
tutorsglobe.com theories of wages assignment help-homework help by online wages tutors
Setting remuneration of directors at a suitable level is not an easy task. However, it is frequently vitally significant to the success of the company.
Quantitative-Polygenic Inheritance tutorial all along with the key concepts of Continuous Variation, Other Considerations and quantitative inheritance
1963434
Questions Asked
3689
Tutors
1461372
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!