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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The slope of the ray by the origin which is tangent to point b equivalents to: (w) the reciprocal of the price elasticity of demand. (x) P / Q. (y) 0a / 0c. (z) the price elasticity of supply. Discover Q & A Leading Solution Library Avail More Than 1423831 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1945820 Asked 3,689 Active Tutors 1423831 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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