MRS of 12,3 and 6,9
No indifference curve can intersect because all points on indifference curve are ranked equally prefered and ranked either or less more prefered than every other point on the curve.rt
To calculate acceleration using tangents at different points along a curve, you can determine the slopes of the tangents at those points, which represent the instantaneous velocities. By measuring the change in these velocities over the time interval between the two points, you can apply the formula for acceleration: ( a = \frac{\Delta v}{\Delta t} ). This approach allows for the calculation of average acceleration between the two points, and if the time interval is sufficiently small, it can approximate instantaneous acceleration.
It gives more satisfaction
Is the integral of the curve - between the two end points.
A chord is a line segment between two points on a given curve. Basically it's two points that are connected with a line which all happens to be on a curve. Most likely a circle
Indifference curve is a curve that shows consumption bundles that give the consumer the same level of satisfaction. Indifference map, on the other hand Indifference curve is a graph of two or more indifference curves.
No indifference curve can intersect because all points on indifference curve are ranked equally prefered and ranked either or less more prefered than every other point on the curve.rt
indifference curve is the graphical representation of the bundles of commodities for a given income level or budget that yields equal satisfaction at all the points.
indifference curve is a combination of two commodities. where as, isoquant curve shows a relationship between of variable factor i.e. labour and fixed factor i.e. capital.
The relationship between the indifference curve and perfect substitutes is that in the case of perfect substitutes, the indifference curve is a straight line. This means that the consumer is equally satisfied with either good and is willing to trade one for the other at a constant rate.
income expansion curve The ICC is a line that is formed when many indifference curves are seen and their attainable points are plotted. The line that is formed by connecting these points is the ICC. The expansion path is the same concept, but for isoquants. Isoqants being the two inputs that are needed in production. indifference curves are from consumer theory that a person has to choose between two goods.
It is the equilibrium point of utility maximization.
budget line shows purchasing power of an consumer but indifference curve show willingness of consumer for two commodities.
two indifference curve never cut each other..
The tangency point of Indifference curve and budget line shows the Marginal Rate of Substitution between X and Y commodities. Consumer's equilibrium is achieved at that point.
what will be the shape of indifference curve if one of the two goods is a free commodity
a single indifference curve cannot cross itself.