Economy, asked by naveenreddyb9064, 10 months ago

What is the difference between utility approach and indifference curve approach?

Answers

Answered by grandcity98

The indifference curve theory, distinguishes between income effect and substitution effect of a price change, whereas the Marshallian utility analysis is not able to distinguish between these two components of the price effect.

Previous Question

Next Question

Similar questions

Hindi, 5 months ago

介ठंडी हवा में कौन सा ठंडी हवा में कौन सा वाक्य आएगा ...

Science, 5 months ago

diagram of animal cell...

Math, 5 months ago

पेरी मीटर ऑफ 2 स्टार 40 मीटर एंड 96 मीटर रिस्पेक्टिवली फाइंड द पैरामीटर ऑफ स्क्वायर इक्वल इन द एरिया टू द सम ऑफ द फर्स्ट टू स्क्वायर...

Economy, 10 months ago

What do you understand by indifference curve?

Economy, 10 months ago

What is the importance of equimarginal utility?

Social Sciences, 1 year ago

why is education nesecerry to do?

CBSE BOARD X, 1 year ago

hey guys.....I had given pre exams of Margdarshan and Jupiter and passed now main exams of these both are held on Sunday . So plz suggest me which exam shuld I attend ?

Math, 1 year ago

If A(–5, 7), B(–4, –5), C(–1, –6) and D(4, 5) are the vertices of a quadrilateral, find the area of the quadrilateral ABCD.