indifference curve analysis

URI: https://gptkb.org/entity/indifference_curve_analysis
GPTKB entity
Statements (29)
Predicate Object
gptkbp:instanceOf gptkb:economic_policy
gptkbp:analyzes consumer preferences
gptkbp:appliesTo two-good model
gptkbp:assumes diminishing marginal rate of substitution
non-satiation
ordinal utility
rational consumer
gptkbp:axesRepresent quantities of two goods
gptkbp:basisFor modern consumer theory
gptkbp:cannotIntersect another indifference curve
gptkbp:contrastsWith cardinal utility analysis
gptkbp:developedBy gptkb:John_Hicks
R.G.D. Allen
gptkbp:eachPointRepresents combination of goods with equal utility
gptkbp:explains consumer equilibrium
income effect
substitution effect
gptkbp:higherCurveRepresents higher utility
https://www.w3.org/2000/01/rdf-schema#label indifference curve analysis
gptkbp:introduced gptkb:Francis_Ysidro_Edgeworth
gptkbp:popularizedBy gptkb:Vilfredo_Pareto
gptkbp:relatedTo utility maximization
budget constraint
gptkbp:shapeIs convex to the origin
gptkbp:usedIn microeconomics
gptkbp:usedToDerive demand curve
gptkbp:visualizes curve on a graph
gptkbp:bfsParent gptkb:ordinal_utility_theory
gptkbp:bfsLayer 6