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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Total fixed costs for such profit-maximizing firm equivalent: (1) 0bcq1. (2) 0adq2. (3) 0Peq2. (4) aPed. (5) Can't be measured in illustrated figure. Q : Propensity to consume Propensity to Propensity to consume: This exhibits the level of consumption at various levels of income in the economy.
Propensity to consume: This exhibits the level of consumption at various levels of income in the economy.
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