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What are assumptions of indifference curve?

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What are assumptions of indifference curve?

Posted by Ritikesh Kumar 7 years, 7 months ago

CBSE > Class 12 > Economics

2 answers

Shivangi Goel 7 years, 7 months ago

1)income of consumer is given and doesn't change.2) consumer spends his income on two goods which r subsitude of each other.3)consumer's perference should be consider 4) monotonic preference should be scale 5) consumer behave rationale.

Preet Kaur? 7 years, 7 months ago

the consumer is rational and driven by monotonic preferences. the 2 goods are substitute of each other.

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