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rsbains rsbains
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5 years ago

Why do convex indifference curve have a negative slope?



▸

because consumers face a budget constraint



▸

because scarcity implies that it is not possible to consume more of one good without giving up some of the other



▸

because to keep utility constant, a consumer must get more of one good if she is to give up some of the other



▸

because consumers take market prices as given

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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jeromet1jeromet1
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5 years ago
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rsbains Author
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5 years ago
This site is awesome!
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5 years ago
Slight Smile Good luck on the rest
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