Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

1. An indifference curve is defined as a set of bundles that a consumer with a given income can afford, and among which she or he is indifferent. 2. More is preferred to less means that if the total ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

You can show the preference of consumers for differing products though the use of indifference curves in Excel. The general data in Excel is formatted using an XY Scatter chart, and then the specific ...

1) If the demand for oranges is written as Q = 100 - 5p, then the inverse demand function is A) Q = 5p - 100. B) Q = 20 - .2p. C) p = 20 - 5Q. D) p = 20 - .2Q. 2) If pizza and tacos are substitutes, a ...