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8.1: Introduction to Indifference Curves

  • Page ID
    48385
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    What you’ll learn to do: find consumer equilibrium using indifference curves and a budget constraintImage of caliper holding a stack of coins next to a calculator. The caliper is laying on a budget report.

    Although numbers can be used to illustrate consumer preferences, economists don’t believe that we can objectively measure someone’s utility. In this section, you’ll learn an alternative way of identifying consumer equilibrium that only requires that you can rank preferences—that is, you can say whether you prefer Option A to Option B.

    CC licensed content, Original
    • Introduction to Indifference Curves. Authored by: Steven Greenlaw and Lumen Learning. Provided by: Lumen Learning. License: CC BY: Attribution
    CC licensed content, Shared previously

    8.1: Introduction to Indifference Curves is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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