economics terms

Indifference Curve

An indifference curve is a set of points with the same utility.  That is, utility is constant along an indifference curve.

A set of indifference curves is essentially a relief map of a utility function.  Indifference curves must satisfy a property also required of relief map contours:  indifference curves cannot cross.

Related Models:  Two Goods - Two Prices, Intertemporal Substitution.


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Economics Terms

Arbitrage Pricing
Arbitrage Profit
Average Cost
Balance of Payments
Budget Constraint
Call Option
Concave Function
Consumer Surplus
Consumption Function
Convex Function
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Demand Curve
Econometrics
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Economics
Economics Textbook
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Expectations Hypothesis
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Indifference Curve
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Jensen's Inequality
Macroeconomics
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Microeconomics
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Recession
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Structural Unemployment
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Supply Curve
Taylor Rule
Technological Growth
Term Structure
Theory of the Consumer
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Unemployment Rate
Utility Function
Velocity of Money
Widget
Yield Curve