Question Three A What Is An Indifference Curve 2 Marks B Write On Two 2 Characteristics Of Indifference Curves 4 1 (9.54 KiB) Viewed 14 times
Question Three A What Is An Indifference Curve 2 Marks B Write On Two 2 Characteristics Of Indifference Curves 4 2 (6.99 KiB) Viewed 14 times
QUESTION THREE a. What is an indifference curve? (2 marks) b. Write on two (2) characteristics of indifference curves (4 marks) c. What is Marginal Rate of Substitution? (2 marks)
d. What is a budget line? (2 marks) e. Explain with a graph what will happen to the budget line when: 1. Income effect(5 marks) 11. Substitution effect (5 marks) QUESTION
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