Friday, May 29, 2009

Micro-economics Indifference Curve

Indifference curve: A curve that shows different combinations of two goods that provide the same level of satisfaction.

Indifference Map: A set of indifference curves is called indifference map.

Indifference schedule: A table that shows different combinations of two goods that provide the same level of satisfaction.

Table:

Combination Unit of apple Unit of mangoes

A 15 1
B 11 2
C 8 3
D 6 4 E 5 5

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