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.
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Refer to the given diagram. As it associate to production possibilities analysis, the law of increasing opportunity cost is reflected in curve:1) A 2) B 3) C 4) D Discover Q & A Leading Solution Library Avail More Than 1432853 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1955680 Asked 3,689 Active Tutors 1432853 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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