When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
Source: JAMB · 2024
When combination of two goods which a consumer derive equal satisfaction is plotted on a graph, the graph is known as
Explanation
An indifference curve shows all combinations of two goods that give equal satisfaction. The consumer is indifferent between any points on the curve.
A demand curve shows quantity demanded at different prices. It is not about comparing two goods.
On an indifference curve, you might prefer 3 oranges and 2 apples equally to 2 oranges and 3 apples.
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