Saturday, September 15, 2018

Indifference Curve

Indifference Curve-

Indifference curve shows different combination of two goods or service that can be purchased with given income.


Example: I went to a sports shop for purchasing a cricket bat and ball. My initial plan was to buy a reebook bat and 4 white deuce ball. But after knowing real price of equipment i decided to buy a reebook bat and 2 white ball instead of $ balls.

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