Science, asked by rkgmailcom266, 9 months ago

How does slope of an indifference curve affects the shape of indifference?

Answers

Answered by priyamala12
1

In short, the slope of the indifference curve changes because the marginal rate of substitution—that is, the quantity of one good that would be traded for the other good to keep utility constant—also changes, as a result of diminishing marginal utility of both goods.

Answered by thangatamizhnataraja
0

Answer:

In short, the slope of the indifference curve changes because the marginal rate of substitution—that is, the quantity of one good that would be traded for the other good to keep utility constant—also changes, as a result of diminishing marginal utility of both goods.

Explanation:

Similar questions