Assumptions of Indifference Curve Analysis:ADVERTISEMENTS: (1) The consumer acts rationally so as to maximise satisfaction. (2) There are two goods X and Y. (3) The consumer possesses complete information about the prices of the goods in the market
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What are the assumptions of indifference curve analysis?
Assumptions of Indifference Curve Analysis:
(1) The consumer acts rationally so as to maximise satisfaction. (2) There are two goods X and Y. (3) The consumer possesses complete information about the prices of the goods in the market.
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