Results 1 to 2 of 2

Math Help - Indifference curves

  1. #1
    Senior Member
    Joined
    Apr 2009
    Posts
    306

    Indifference 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!
    Follow Math Help Forum on Facebook and Google+

  2. #2
    MHF Contributor
    Joined
    May 2010
    Posts
    1,028
    Thanks
    28
    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
    Last edited by SpringFan25; October 4th 2010 at 01:48 AM.
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Economics Help: Indifference Curves
    Posted in the Business Math Forum
    Replies: 1
    Last Post: September 7th 2010, 02:55 PM
  2. EPS indifference Problem
    Posted in the Business Math Forum
    Replies: 0
    Last Post: June 27th 2010, 07:24 AM
  3. Indifference map economics question
    Posted in the Business Math Forum
    Replies: 1
    Last Post: March 19th 2010, 09:13 PM
  4. Drawing a Consumer Indifference Curve
    Posted in the Advanced Applied Math Forum
    Replies: 0
    Last Post: February 28th 2010, 06:23 PM
  5. word problem indifference curve
    Posted in the Advanced Math Topics Forum
    Replies: 1
    Last Post: September 8th 2007, 10:48 PM

Search Tags


/mathhelpforum @mathhelpforum