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What the model claims

What the model claims

Indifference curves IC1, IC2 and IC3 for Goods X and Y, with bundles A and B giving equal satisfaction on IC2 and higher satisfaction toward the upper right An indifference curve joins combinations of two goods that give a consumer equal total satisfaction. Bundles A and B therefore have the same ordinal ranking when they lie on the same curve.

7.2.4 limitations of the model of indifference curves Lesson

  1. Intl A Level
  2. /Economics
  3. /7.2.4 limitations of the model of indifference curves

Step-by-step lessons on CIE Intl A Level Economics 7.2.4 limitations of the model of indifference curves. Each one builds up to exam-style questions.

Lessons