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Henry,an upper-level manager at a software design firm,is talking informally with his colleagues over dinner."The idea of quotas makes me uncomfortable," he says."I think that we should just treat everyone equally,regardless of how people vary from one another.A person is a person." Henry is expressing the philosophy behind
Indifference Curve
A graph representing different bundles of goods between which a consumer is indifferent, showing combinations that yield equal satisfaction or utility.
Apples And Bananas
A phrase indicating comparison or choice between two different items, often used to illustrate the concept of preference or trade-off in economics.
Utility Function
a mathematical representation in economics of a consumer's preference ranking over a set of goods or services.
Indifference Curve
A graphical representation showing combinations of goods or services among which a consumer is indifferent, signifying equal levels of utility.
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