Question

Discuss the important assumptions on which indifference curve analysis of demand is based.

Answer 1

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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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Answer 2

Answer:

Discuss the important assumptions on which indifference curve analysis of demand is based.

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