Indifference Curve

… a core term used in Economic Analysis and Atlas102

Definition

Investopedia (reference below) defines an indifference curve as a diagram depicting equal levels of utility (satisfaction) for a consumer faced with various combinations of goods.

Investopedia goes on to say:Indifference Curve

“As an example, consider the diagram above. This consumer would be most satisfied with any combination of products along curve U3. This consumer would be indifferent between combination Qa1, Qb1, and Qa2, Qb2.”

Atlas topic, subject, and course

Consumer Theory and Elasticity of Demand and Supply (core topic) in Economic Analysis and Atlas102 Economic Analysis.

Source

Investopedia, What is the ‘Indifference Curve,’ at http://www.investopedia.com/terms/i/indifferencecurve.asp, accessed 18 May 2016.

Page created by: Ian Clark, last modified 18 May 2016.