Asked by
Gaurang Sharma
on Nov 16, 2024
Verified
When two goods are perfect complements, the indifference curves are right angles.
Perfect Complements
Two goods with right-angle indifference curves.
Indifference Curves
Indifference curves are graphical representations in microeconomics that indicate different combinations of two goods between which a consumer is indifferent, reflecting their preferences and utility.
Right Angles
An angle measuring exactly 90 degrees.
- Acquire an understanding of the economic principles underlying the shapes of indifference curves for distinct goods types like perfect substitutes, perfect complements, inferior goods, normal goods, and Giffen goods.
Verified Answer
ZR
Learning Objectives
- Acquire an understanding of the economic principles underlying the shapes of indifference curves for distinct goods types like perfect substitutes, perfect complements, inferior goods, normal goods, and Giffen goods.
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