Professional Documents
Culture Documents
y
+ + +
+ + +
+ + +
+ + + +
+ + + +
- - (x,y)
- -
- -
- -
- - -
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x
(x,y)
Veg.
Meat
6
C
i.c. I
B
i.c. II
x
8
y
(x,y))
x
y
Slope , rate at which the consumer is willing to
x
substitute y for x. Units of y per unit of x that I need
to be kept at the same indifference curve (equally
satisfied). As the change in x gets smaller, this ratio
approximates the slope of the i.c. at point (x,y).