Question

What is an indifference map? ​

Answer 1

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An indifference map is a combination ofindifference curves, which allows understanding how changes in the quantity or the type of goods may change consumption patterns.

Answer 2

Answer:

An indifference map is a combination of indifference curves, which allows understanding how changes in the quantity or the type of goods may change consumption patterns.

• Indifference curves slop downward to the right. ...
• Every indifference curve to the right represents a higher level of satisfaction. ...
• Indifference curves cannot intersect each other. ...
• Indifference curve will not touch the axis
• Indifference curves are convex to the origin.

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