Economics · Consumer Behaviour and Demand
Indifference curve analysis is based on which of the following?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Cardinal Measurement of Utility and Increasing Marginal Rate of Substitution (IMRSxy)
- 2Ordinal Measurement of Utility and Increasing Marginal Rate of Substitution (IMRSxy)
- 3Ordinal Measurement of Utility and Diminishing Marginal Rate of Substitution (DMRSxy)✓
- 4Cardinal Measurement of Utility and Diminishing Marginal Rate of Substitution (DMRSxy)
Correct answer
Ordinal Measurement of Utility and Diminishing Marginal Rate of Substitution (DMRSxy)
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