indifference map

Indifference mapclick for a larger image
Fig. 92 Indifference map. In principle, indifference curves 1, 2, 3, etc., can take the full form indicated in the map, though in practice only the solid-line segment of each curve is relevant, because once the curves become vertical, and the consumer is fully sated with product Y, he will not be prepared to give up extra units of product X to get extra Y; and once the curves become horizontal, and the consumer is fully sated with product X, he will not be prepared to give up extra units of product Y to get extra X. The ridge lines R1 and R2 mark the boundaries of the effective segments of the indifference curves.

indifference map

a collection of ranked INDIFFERENCE CURVES that exhibit graphically an individual's increasing UTILITY, or satisfaction, when moving outwards from the origin, consuming larger quantities of two products. See Fig. 92 . Indifference curves are an ORDINAL measure and the numbers on the indifference curves in Fig. 92 do not indicate an absolute level of utility. Indifference curves never cross because two crossing curves would imply inconsistent or irrational choices between the two products by the consumer (see ECONOMIC MAN).