Managerial Economics| Indifference curve theory| assumptions| properties |Malayalam
Автор: Commerce Class Partner
Загружено: 2020-11-22
Просмотров: 19671
Описание:
Managerial Economics| Indifference curve theory| assumptions| properties |Malayalam
Explained:
Assumptions of the indifference curve:
1. The consumer consumes a combination of two goods
2. Non-satiety
3. Ordinal utility
4. Consumer rationality
Properties of the indifference curve:
1. Indifference curve slope downwards from left to right
2. Indifference curve is convex to the origin
3.Indifference curves cannot intersect each other
4. Higher indifference curves represent higher level of satisfaction
5. Straight line IC belongs to perfect substitute goods
6.ICs will be rectangular or L shaped in case the two goods are non substitutable or perfect complements.
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• Managerial Economics (2024)
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• Business Management (2024)
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