Question

J ਲਿਥਿਆ ਵਿਚ ਸਵੈਟਲੈਂਟ ਕਿਰੜੀ ਹੋਣ Jumping​

Answer 1

Indifference map refers to a set of indifference curves. An indifference curve which is to the right and above another shows a higher level of satisfaction to the consumer. Here, IC3 shows higher level of satisfaction than IC2. Thus, the indifference curve relates to a higher level of income of the consumer.The law of demand is one of the most fundamental concepts in economics. ... The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This occurs because of diminishing marginal utility.