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Chapter 1: Q.3RQ. (page 9)

Why are indifference curve steep on the left and flatter on the right?

Short Answer

Expert verified

It is due to diminishing marginal utility

Step by step solution

01

Step 1. Meaning of indifference curve

Indifference curve shows a combination of two goods that gives a consumer equal satisfaction and utility.

02

Step 2. Reason

Indifference curve steep on the left and flatter on the right due to diminishing marginal utility.It states that as the person increases it consumption, the marginal utility from each additional unit become lower.

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