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Why does an indifference curve never meet?
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
How can you calculate MRS between two points on indifference curve?
MRS of 12,3 and 6,9
How do you draw a bell curve?
A bell curve reaches its highest point in the middle and is lower on the sides. It can represent standard deviations from the mean.
Why indifference curve do not intersect each other?
Indifference curves do not intersect each other because each curve represents a different level of utility or satisfaction for a consumer. If two curves were to intersect, it would imply that the same combination of goods provides two different levels of utility, which is contradictory. Therefore, each curve must maintain a distinct and consistent level of satisfaction, ensuring that higher curves represent greater utility than lower ones. This reinforces the fundamental assumption of consumer preferences in economics.
How want to know that the gradient of a curve in displacement-time graph is increasing or decreasing?
If the gradient is a positive number the curve is increasing, and if the gradient is a negative number it is decreasing.
