Indifference curve analysis possesses certain distinguishable and unquestionable merits over Marshall’s cardinal utility analysis. This article discusses the undeniable merits of indifference curve analysis.
The first relation between the geometric conditions for Giffenity implies that one curves fan out in the downward direction if and only if the other curves fan out in the upward direction. The second relation implies that the more sharply one curve bends, the flatter the other curve becomes ...