Draw an indifference curve for i) perfect substitutes and ii) perfect complements.

I know the basic convex shape to the origin of a indifference curve but I have no idea what they look like for i) and ii). Anyone help? Thanks!

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- Oct 3rd 2010, 08:12 PMusagi_killerIndifference curves
Draw an indifference curve for i) perfect substitutes and ii) perfect complements.

I know the basic convex shape to the origin of a indifference curve but I have no idea what they look like for i) and ii). Anyone help? Thanks! - Oct 4th 2010, 02:35 AMSpringFan25
Perfect subsititutes have a constant MRS, so the indifference curves have constant gradient. they are straight lines sloping downwards.

Perfect compliments have "L" shaped curves. A straight line could connect the corners of all the L's and the origin.

both graphs can eaily be found in any (undergraduate) microeconomics textbook or on google.

Indifference curve - Wikipedia, the free encyclopedia