Difference between indifference set and indifference …
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Yogita Ingle 4 years, 11 months ago
Indifference Set : It is a set of those combination of two goods which offer the consumer the same level of satisfaction, so that, the consumer is indifferent across any number of combination in his indifference set.
Monotonic Preferences : onotonic preferences refers to a situation where the consumer will prefer more quantity of commodities than lesser quantity.
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