How Indifference Curve Analysis is Superior over Utility Analysis?
The following article will guide you about how indifference curve analysis id superior over utility analysis. 1. It Dispenses with Cardinal Measurement of Utility: The entire utility analysis assumes that utility is a cardinally measurable quantity which can be assigned weights called 'Utils'. If the utility of an apple in 10 utils of a banana it is 20 utils, and [...]