Economy, asked by mandar6642, 9 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).

Previous Question

Next Question

Similar questions

Computer Science, 4 months ago

. Calculations cannot be made on the fields with the following data type.

Business Studies, 4 months ago

Generally exports are quoted in priceing. A cif B fob C cf D dbk...

English, 4 months ago

which character traits of Douglas helped his conquer his fear of water...

Economy, 9 months ago

State the assumptions of indifference curve.

Economy, 9 months ago

Define marginal rate of substitution.

Math, 11 months ago

Answer of this question please send fast...

Math, 11 months ago

a rectangular lawn measuring 50m by 36m is surrounded externally by a path 2m wide .Find the area of the path and the cost of levelling the path at Rs.3.25per meter square...

Social Sciences, 11 months ago

Compare the communication and transportation system in india and uae. Pls answer fast....