Economy, asked by mandar6642, 10 months ago

Why is indifference curve convex to origin?

Answers

Answered by grandcity98

Indifference curves are convex to the origin because the marginal utility of each product consumed decreases with subsequent consumption. This convex relationship is based upon an idea dubbed the marginal rate of substitution, which is represented by the formula (Z = change in X / change in Y).

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