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Svetradugi [14.3K]
3 years ago
5

If the price of one of the products associated with indifference curves increases, all else the same, what is the result?

Business
2 answers:
Rudik [331]3 years ago
5 0

Answer:

The individual is able to get to a lower level of utility

Explanation:

Cloud [144]3 years ago
5 0

Answer:

The correct answer is letter "C": The individual is able to get to a lower level of utility.

Explanation:

An Indifference Curve determines the combination of two goods that will provide equal satisfaction. If you want more of one good and less of another, you will be willing to trade some of one for more of the other. But the amount of the first good you are willing to give up will decrease once you obtain more of the second.

<em>In front of the raise of the price of the goods, plotted in a graph, the indifference curves move inwards implying the consumer satisfaction reduces.</em>

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Answer:

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Explanation:

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Explanation:

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Explanation:

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