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.
An illustration of predatory behavior would be a firm: (w) building excess capacity to deter entry. (x) lowering price because of production cost decreases. (y) adopting a cost reducing technological innovation. (z) lowering prices to remove excessive
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