how can we check indifferent sets in a number of combintion??
↵Hi Diksha,
An indifference set refers, to a tabular presentation of various combinations of two goods that provide the consumer the same utility. When the various combinations in an indifference set are depicted on a graph, it is called indifference curve.
-
Consumption Bundle
Good 1
(units)
Good 2
(units)
1
7
2
2
5
4
3
2
5
4
1
6
- In order to check indifferent sets in a number of combinations, you should know the utility derived from the consumption of different combinations of good 1 and good 2.
Keep Posting!!