The indifference curve

Related BrainMass Solutions

• an indifference curve

  A higher indifference curve gives a higher utility than a lower indifference curve. Thus, the consumer will be better off at any point on a higher indifference curve. This post describes an indifference curve.

• full indifference curve framework

  Use the full indifference curve framework to graphically show, and explain, the effect on the demand curve for good X that these changes in the consumer's relative preferences have.

• Indifference curve and utility theory

  646432 Indifference curve and utility theory Two bundles of oranges and bananas are on the same indifference curve for an individual: (5 oranges, 12 bananas) and (14 oranges, 3 bananas).

• Indifference Curves and budget lines

  One indifference curve represents one level of marginal utility. Thus anywhere on the indifference curve you will get the same level of marginal utility. Also more away the indifference curve is from the origin higher is your marginal utility.

• An indifference curve

  Any points above the curve shows combinations of food and clothing that the household would prefer to combinations indicated by points on the curve. An indifference curve is defined.

• Indifference Curve Analysis Used on Pension System

  542180 Indifference Curve Analysis Used on Pension System Use indifference curve analysis to show how the Social Security pension system can reduce annual consumption for some workers who have a strong preference for current versus future consumption.

• Indifference Curves, Utility Maximizing Conditions, and Demand Curves

  Using Indifference Curve and Budget Line analysis, graphically demonstrate how you can derive a demand curve. Briefly explain. Note: In the above questions, assume a bundle of two goods X and Y.

• Indifference Curve, Budget Line & Optimal Utility

  It will connect the points (0,2) and (2,0). It will be tangent to the indifference curve at (1,1) 4. The optimal consumption bundle is where the budget line is tangent to the indifference curve, i.e. at 1 unit each of goods x and y 5.

• Marginal Rate of Substitution

  Draw an indifference curve for Tyler through the bundle at (2,2), which is the bundle with two units of each good.

• Budget Constraint/Indifference Curve

  Constrained utility maximization occurs where the very highest indifference curve is just tangent to the budget constraint. Thus her utility is maximized at I3. The expert examines budget constraints for indifference curves.