00:01
So here we have propositions about indifference curves.
00:04
And the first thing i'm going to do is rule two out, right? the first one is b, downward slope.
00:13
This is simply not good enough, right? you can draw curves that slope downward that intersect, right? these both slope downward and intersect.
00:24
And d, convex to the origin.
00:27
Again, not good enough.
00:29
I can draw convex curves to the origin that intersect.
00:34
Those curves are both convex to the origin and they intercept.
00:37
So both of these, both reasons here, are insufficient, right? these clearly do not give you enough to say why indifference curves cannot cut each other, right? so we only have two left, right? we need to pick two.
01:02
So the correct ones are kind of obviously the combinations that give same satisfaction or same utility as an economist might say and each is different right and to try to talk very briefly about why these things are true let me suppose that we did have indifference curves that intercepted right what would this point mean, right? so imagine that this curve, i should have do this in these in different colors, right? imagine that this curve here is utility equals to 100 and this curve is utility equals to 80...