MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Business Studies

Marketing Management

The indiffere...

Question

The indifference curve analysis is also known as _________.

A

ISO-Utility analysis

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

marginal utility analysis

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

cardinal utility analysis

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

gossens first law

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A ISO-Utility analysis
The indifference curve is a combination of two goods which would give the consumer the same amount of utility. Every point on the indifference curve would be a point where the consumer is indifferent. The indifference curve is downward sloping because for the consumer to purchase of more of some good, it has to give up some of another good.

Suggest Corrections

thumbs-up

0

Similar questions

Q. When a consumer moves upward along an indifference curve, his total utility _________.

Q.
Marginal utility analysis of consumer equilibrium assumes that utility can be expressed in terms of cardinal numbers which is a serious limitation of utility analysis.

Q. Utility Analysis studies consumer's equilibrium on the assumption that utility can be expressed in terms of units like 2, 4, 6. Indifference Curve Analysis, on the other hand, assumes that utility cannot be expressed in terms of units; it can at best be compared. Does it mean that consumer's equilibrium (in terms of the consumption of goods X and Y) should be different, using different assumptions?

Q. Name the economists who developed:
Marginal utility theory - _____________, and
Indifference curve theory - ___________.

Q. a) Marshall pointed out, money could measure utility, though in an indirect manner
b) Utility analysis is based on the ordinal number system

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Marketing Management

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Marketing Management

Standard XII Business Studies

Join BYJU'S Learning Program

CrossIcon