Can You Explain Indifference Curve In Managerial Economics?


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amber Jhon answered
Indifference curve is the graph which shows the different bundles of goods which a consumers can buy and between which a consumer is indifferent. At each point of the indifference curve the consumer has no preferences for the bundles. In simple words, we can say that indifference curve tells about all the bundles that are equally preferred. Consumers get the same level of utility and satisfaction from all these bundles. Therefore, an indifference curve with the utility measures give the whole pictures to the company about the response of the consumers.

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