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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Economic profits produce competitive pressures which cause: (w) each firm’s output to shrink during the short run. (x) an industry’s output to increase. (y) market prices to increase. (z) firms to leave an industry. Discover Q & A Leading Solution Library Avail More Than 1425436 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1925195 Asked 3,689 Active Tutors 1425436 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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