\ Economics Assignment Name : Yashita Mathpal Course : BA (Eco+Maths) ID : 20250693 Year | \. s welt g EY 4 2021-02-07Guts ‘The {ellesding Jobe gia etal tuthul 0» total Product at a function 64 tober wed = | Labber tal Out a) Sefine elintintshing seturne, (b) Zoey the fable fndfcate the =| 1 $ stuation cf cliinishing rebum, 2 9 Apia your osuber , 3 12 wot 1 | 5 15 Rns-1 (a) Binirishing Returné : Beyond the optimum tevel of topoiiy , ety aslditionad uit 2, Juoduction factor wil rarult fn 0 smaller Ancrease to output while Ruping the ether precuction factors constant (b) Yes, the vabeve table Indicates the aliminishing vetums « from the .guen table we ean interpet that the thon Ja smalls and malls snoware in output ae the quantity of Input ie labor nena. we we can see fete , when the fnput Therese to fncuore im output secur to @ which war 4 whin the dnput wer 2, Ieuforr, vv tue ware tnorearing the input or number of tabor, the inownre in outhec _ becoming smalix. Thus, dlintinishingmsacunay + set tn@2 Mns-2 : An dnai{fena ewe aba 0 Draw can indffference curve and explain th vewiowr fropantiue . vewue whew ustitiby Jemains veondant aceos! val points on. z the cue. 5] PROPERTIES Ct INDIFFERENCE = a CURVE 5| * Indifference Curves slope downward i . te right: AnaP fone cusuer Acing. downward “steping umeana thab yten be ameunt 2, one goed in the combination ia increattdl , the arount of eth gord lv suctuced te xemain the wiility censtant. ® Indifference Cues ar cone to the veriigin Inctifferaner Cuwud 0 convex te the orfgin sax Manginal Rate of Subsiitution co x for Y CMRS ay) diminisher an more.and umore of % vr substuted tox Y- . 2 Anolffference Guwes .cannot fntersect each ether : No two tnfifperence cwucs intersect because at the pont cof, cntersestion. Hh represents that gist combination goals thos Afpount uufiltty at the gam time otiveh ix an vabiurd —eenelusion 2 A higher Level of sndifjowre come represents 0 _hlghor Level of wutilty. than. .a tower indigperner curse + _ Ahe Combination: which bir on the highr 1¢ will be poufpsed do the combination shih Ob on a Lowen Ie. Mike bute + Indifference Quues Ler fad high utility 4 geod combination. compared te 1C3,