Indifference curve analysis has an advantage over marginal utility analysis in that
A) utility is assumed to be measurable.
B) prices of the two goods don't have to be known.
C) income of the consumer is unknown.
D) utility does not have to be measurable.

Question

Quizplus · Accepted Answer

Indifference curve analysis does not require utility to be measurable, unlike marginal utility analysis which assumes utility can be quantified. Indifference curves represent combinations of goods that provide the same level of satisfaction to the consumer, focusing on the relative satisfaction or preference rather than measuring utility in specific units.

Indifference Curve Analysis Has an Advantage Over Marginal Utility Analysis