What is an indifference curve and why is it called

Reference no: EM13980762

(a) What is an indifference curve and why is it called and indifference curve?

(b) Explain why indifference curves are convex shaped when mapping two goods like food and clothing, while they are more linear when mapping two goods that are close substitutes like Coke and Pepsi.

Reference no: EM13980762

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