Consumer's Equilibrium and Demand-Indifference Curve Analysis (CBSE Class-12 Economics): Questions 1 - 3 of 3

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Question number: 1

» Consumer's Equilibrium and Demand » Indifference Curve Analysis

Short Answer Question▾

Write in Short

Explain the following:

(a) Why is an indifference curve convex to the origin?

(b) Why does a higher indifference curve represent a higher level of satisfaction?

Question number: 2

» Consumer's Equilibrium and Demand » Indifference Curve Analysis

Appeared in Year: 2010

Short Answer Question▾

Write in Short

Define an indifference curve.

Question number: 3

» Consumer's Equilibrium and Demand » Indifference Curve Analysis

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Outline the steps taken in deriving saving curve from the consumption curve. Use diagram.

Explanation

The consumption curve.

The Consumption Curve.

consumption curve given.

In this diagram C + by is the consumption curve. Here 45° line is aggregate supply curve. At point E consumption = income and C is represent as autonomous consumption.

Step for derivation of supply curve from consumption curve given below:… (53 more words) …

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