Convexity of the indifference curve is due to

Name: Convexity of the indifference curve is due to
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The convexity of the indifference curve is due to the Law of Diminishing Marginal Utility. As we move along an indifference curve, the marginal utility of the goods consumed starts to decrease. Since the marginal utility of each good is decreasing, a consumer will require a combination of goods in order to reach a certain level of utility. This leads to the convex shape of the indifference curve.

Convexity of the Indifference Curve Is Due to