1.

‘Higher indifference curve represents higher level of satisfaction to the consumer’. Explain the statement, also state the underlying assumption related to this property of indifference curve. OR A consumer consumes two goods X and Y. Explain what will happen if MUx/Px is greater than MUy/Py

Answer»

‘Higher indifference curve represents higher level of satisfaction to the consumer’. Explain the statement, also state the underlying assumption related to this property of indifference curve.

OR

A consumer consumes two goods X and Y. Explain what will happen if MUx/Px is greater than MUy/Py



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