what do you mean by indiffrence curve?

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what do you mean by indiffrence curve?

2006-09-25 21:41:14 · 2 answers · asked by Ashok K 1 in Education & Reference ➔ Higher Education (University +)

2 answers

It's an economic concept dealing with consumer choice and level of satisfaction. Say you've got $100 to spend, and have the choice of spending it on clothes and/or electonics. What combinations would give you equal amounts of satisfaction? Say spending $20 on electronics and 80 on clothes. Or spending $45 on clothes, and 55 on electronics.

All of these combinations giving you equal satisfaction would be graphically illustrated on an indifference curve.

2006-09-25 23:44:58 · answer #1 · answered by msoexpert 6 · 0⤊ 0⤋

it is no profit or no loss curve in short it makes no difference in choosing between the alternatives

2006-09-26 04:44:06 · answer #2 · answered by ammu 1 · 0⤊ 0⤋