Explain intuitively why indifference curves as defined


Explain intuitively why indifference curves as defined, cannot cross. Further, why would an allocation where an indifference curve intersects the budget line be considered inefficient if the indifference curve is not tangent to the budget line at that point?

Solution Preview :

Prepared by a verified Expert
Business Economics: Explain intuitively why indifference curves as defined
Reference No:- TGS02628888

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)