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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Assume that you purchased a ton of gold in Belgium for $450 per ounce and instantly sold all of it in Chile for $480 per ounce. Economists label your movement as: (i) Arbitrage. (ii) Scalping. (iii) Screening. (iv) Speculation. (v) Signaling. Discover Q & A Leading Solution Library Avail More Than 1422249 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1924485 Asked 3,689 Active Tutors 1422249 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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