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What is the primary function of an indifference curve in consumer theory?a)To represent a consumer's budget constraint.b)To show the total utility derived from consuming goods.c)To illustrate the consumer's preference for different combinations of goods.d)To determine the market equilibrium price.Correct answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary function of an indifference curve in consumer theory?a)To represent a consumer's budget constraint.b)To show the total utility derived from consuming goods.c)To illustrate the consumer's preference for different combinations of goods.d)To determine the market equilibrium price.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary function of an indifference curve in consumer theory?a)To represent a consumer's budget constraint.b)To show the total utility derived from consuming goods.c)To illustrate the consumer's preference for different combinations of goods.d)To determine the market equilibrium price.Correct answer is option 'C'. Can you explain this answer?.

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