Saturday, April 16, 2005

thoughts on indifference curves


IC(curves), here we refer it to as IC curves.....dont know how the repetition came about..well as i was goin through FERGUSSON & GOULDS MICROECONOMICS, it suddenly came to my notice as to how infinite number of IC can be drawn in a commodity space.....on looking at the diagram, we make out only finite lines can be drawn......fergusson made the revelation to me that " IC's HAVE NO WIDTH".i was surprised because of the fact that when it was taught in class neither the prof nor the students asked anything about this.....maybe thay knew...i most certainly did not know....feeling foolish about myself!

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