Analyzing the Demand Curve of X (Dx) with Indifference Curve Approach - Edubirdie

University:
Elon University
Course:
ECO 1000 | Economics
Academic year:

2024
Views:

99

Pages:

1
Author:

Masadepan C.

Analyzing the Demand Curve of X (Dx) with Indifference Curve Approach Draw the deman curve of X (Dx) Px Py M x y MUx MUy Umax 10 8 14 8 8 8 80 80 80 3,6 4,7 2,4 5,5 5,3 5,8 18,5 17,9 19,4 14,8 18,1 11,2 108,6 125,33 89,8 Px 14 10 8 x 2, 43, 64,7 Explanation: The curve above is in accordance with the law of demand, that is, if the price Px increases, the demand for good X decreases. Conversely, if the price Px falls, the demand for good X will increase. DX is a demand curve that connects the intersection point between price (Px) and quantity of goods (x).

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