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 Equation + by is the consumption curve. Here Equation line is aggregate supply curve. At point E consumption = income and Equation is represent as autonomous consumption.

Step for derivation of supply curve from consumption curve given below:

(1) In this… (48 more words) …

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