Why indifference curve is convex
Why the indifference curve is convex to origin?
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The Indifference curve is always convex to the origin due to diminishing marginal rate of substitution.
An unregulated monopoly which does not price discriminate sets price in accord along with the: (w) height of the graph where marginal revenue equals average total costs [MR = ATC]. (x) height of the graph where marginal costs equal av
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