What is the Indifference Curve? The satisfaction level of an individual cannot be in the quantitative value. Although people will, and do, recognize the preferences that will offer them greater, or little, or the equivalent degree of pleasure, the indifference curve displays individual variations of products that have the same degree of benefit or contentment. For instance, Figure 1 illustrates three indifference curves that display Emma's choice for the exchange she encounters in her two fundamental comfort projects: consuming donuts and reading books. Each indifference curve (Ul, Um, and Uh) depicts one amount of benefit. Initially, we analyze the significance of the actual indifference curve, and afterward, we observe the correlation among them Emma will derive equivalent benefit from across all variations of books and
You are here
Home > Posts tagged "Indifference Curve"