Because of the completeness assumption, there will be one indifference curve [...]
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passing through every point in the set.
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3. UTILITY THEORY: MODELING PREFERENCES AND TASTES in Exhibit 3.
Exhibit 3. An Indifference Curve Map
Note: The indifference curve map represents the consumer’s utility function. Any curve above and to the right represents a higher level of utility.
<span>Because of the completeness assumption, there will be one indifference curve passing through every point in the set. Because of the transitivity assumption, no two indifference curves for a given consumer can ever cross. Exhibit 4 shows why. If bundle a and bundle b lie on the same indifference curve,
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