Economy, asked by rahulaashritha, 3 months ago

Explain why an indifference curve to the right shows higher utility level using the concept of monotonic
preferences?

Answers

Answered by singhneelam0746

2

Answer:

preferences more goods means more utility. ... An Indifference Curve to the right shows higher utility because in Indifference Map a higher Indifference Curve represents those combinations which yield a higher level of satisfaction than the combination on the lower Indifference Curve.

Hope it's helpful..

Answered by itzshivam15

4

Answer:

By the assumption of monotonic preferences more goods means more utility. ... An Indifference Curve to the right shows higher utility because in Indifference Map a higher Indifference Curve represents those combinations which yield a higher level of satisfaction than the combination on the lower Indifference Curve.

Explanation:

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