Question

Define an Indifference Curve.

Why is it Convex to the origin..?​

Answer 1

Answer:

a curve on a graph (the axes of which represent quantities of two commodities) linking those combinations of quantities which the consumer regards as of equal value.

Indifference curves are convex to the origin because as the consumer begins to increase his or her use of one good over another, the curve represents the marginal rate of substitution. ... The marginal rate of substitution goes down as the consumer gives up one good for another, so it is convex to the origin.

Answer 2

curve on a graph (the axes of which represent quantities of two commodities) linking those combinations of quantities which the consumer regards as of equal value.

Indifference curves are convex to the origin because as the consumer begins to increase his or her use of one good over another, the curve represents the marginal rate of substitution. ... The marginal rate of substitution goes down as the consumer gives up one good for another, so it is convex to the origin.

its the answer...