30 points
>
Time management is very much important in IIT JAM. The eduncle test series for IIT JAM Mathematical Statistics helped me a lot in this portion. I am very thankful to the test series I bought from eduncle.
Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Economics
In edgeworth box diagram, the curve showing the equilibrium of two consumers is known as: 1. income- consumption curve 2. ridge lines 3. expansion path 4. cont
In Edgeworth box diagram, the curve showing the equilibrium of two consumers is known as: 1. Income- consumption curve 2. Ridge lines 3. Expansion path 4. Contract curve
1 Answer(s)
Answer Now
- 0 Likes
- 1 Comments
- 0 Shares
-
![comment-profile-img]()
>
Do You Want Better RANK in Your Exam?
Start Your Preparations with Eduncle’s FREE Study Material
- Updated Syllabus, Paper Pattern & Full Exam Details
- Sample Theory of Most Important Topic
- Model Test Paper with Detailed Solutions
- Last 5 Years Question Papers & Answers
Sign Up to Download FREE Study Material Worth Rs. 500/-
Nidhi taparia Best Answer
The correct is (4) contract curve. It is the only curve among these that is formed in an Edgeworth Box Diagram. Income consumption curve is formed in case of a single consumer. Ridge lines are for one good with two factors of production. Same for expansion paths. The biggest feature of Edgeworth Box Diagram is that it allows considering two consumers / two firms / two factors of production simultaneously.