Download App

Theory of consumer behaviour — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsTheory of consumer behaviour1 Mark
Question
Give the reason behind a Convex Indifference Curve.
✓

Answer

An indifference curve is convex because the Marginal Rate of Substitution (MRS) continuously declines as the consumer moves downwards along the curve.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "Answer The Following Questions In One Sentence.[1 Marks Each]" from Theory of consumer behaviour→Theory of consumer behaviour — all question types→Economics STD 12 Humanities & Commerce question papers→Rajasthan Board STD 12 Humanities & Commerce question papers→Rajasthan Board question paper generator→

Similar questions

How is the equilibrium price affected by decrease in supply?
→
What is an economy?
→
How is Net Domestic Product calculated?
→
What should be deducted from GNPMP to obtain GDPMP?
→
Give the meaning of positive economic analysis.
→
Will the following items be included or not in National Income of India? Give reason for your answer.
Depreciation (consumption of fixed capital).
→
Define fiscal deficit.
→
What are advertising costs?
→
State any two factors affecting elasticity of supply.
→
What is the shape of TR curve in monopoly?
→