One of the mysteries of the English language finally explained.
A curve on a graph (the axes of which represent quantities of two commodities) linking those combinations of quantities which the consumer regards as of equal value.
- ‘Nondominated alternatives correspond to the indifference curves of traditional economics.’
- ‘Moreover, goods and services in early growth stages defy analysis in terms of efficient frontiers and indifference curves.’
- ‘Two indifference curves (I and II), shown in Figure 1, represent two levels of consumption of environmental quality and of all other goods.’
- ‘The model developed above demonstrates the pattern of indifference curves that explains procrastinatory behaviour.’
- ‘This, of course, will be determined by their new tangential indifference curve.’
- ‘Formally then, utility is maximized at the point where the budget line is tangential to an indifference curve.’
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