Chapter Introduction

ENRICHMENT MODULE D

Indifference Curves and Consumer Choice

image
clickstock/iStock/Getty Images

In this Module, you will learn to:

Explain why economists use indifference curves to illustrate a person’s preferences

Discuss the importance of the marginal rate of substitution, the rate at which a consumer is just willing to substitute one good for another

Use indifference curves and the budget line to find a consumer’s optimal consumption bundle

[Leave] [Close]