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Tags
#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
indifference curves will generally be [...] and [...] , and they cannot cross. These are the only restrictions we place on indifference curve maps.
Answer
strictly convex
negatively sloped
negatively sloped
Tags
#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
indifference curves will generally be [...] and [...] , and they cannot cross. These are the only restrictions we place on indifference curve maps.
Answer
?
Tags
#cfa #cfa-level-1 #economics #has-images #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
indifference curves will generally be [...] and [...] , and they cannot cross. These are the only restrictions we place on indifference curve maps.
Answer
strictly convex
negatively sloped
negatively sloped
If you want to change selection, open original toplevel document below and click on "Move attachment"
indifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.
he same indifference curve, she must be indifferent between these two bundles as well. But because bundle c contains more of both wine and bread than bundle b, she must prefer c to b, which violates transitivity of preferences. So we see that <span>indifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.<span><body><html>
Parent (intermediate) annotation
Open itindifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.
Original toplevel document
Indifference curves cannot touchhe same indifference curve, she must be indifferent between these two bundles as well. But because bundle c contains more of both wine and bread than bundle b, she must prefer c to b, which violates transitivity of preferences. So we see that <span>indifference curves will generally be strictly convex and negatively sloped, and they cannot cross. These are the only restrictions we place on indifference curve maps.<span><body><html>
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