Economics Made Economical

Tip of the Day:…

Tip of the Day: A Utility Curve shows an individual’s personal preference for two scenarios relative to one another. It represents an amount of one option that the person is willing to trade for a given amount of the other option. It’s often used to compare an individual’s preferences between two goods. Each possible point along the Utility Curve provides the individual with the same quantity of “utils” as any other point on the curve.


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