Write any four assumptions of indifference curve analysis -Microeconomics | Management Notes

Write any four assumptions of indifference curve analysis
Cardinal Utility Approach|Microeconomics
Management Notes

Ans) The four assumptions of indifference curve analysis are as follows:

  • Rational consumer.
  • Ordinal measurement of utility.
  • Diminishing marginal rate of substitution.
  • Transitivity and consistency.

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