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What is indifference Curve?
indifference curve is the graphical representation of the bundles of commodities for a given income level or budget that yields equal satisfaction at all the points.
What is the different between indifference map and indiffirence curve?
Indifference curve is a curve that shows consumption bundles that give the consumer the same level of satisfaction. Indifference map, on the other hand Indifference curve is a graph of two or more indifference curves.
How can one graph indifference curves from utility functions?
To graph indifference curves from utility functions, you can plot different combinations of two goods that give the same level of satisfaction or utility to a consumer. Each indifference curve represents a different level of utility, with higher curves indicating higher levels of satisfaction. By using the utility function to calculate the level of satisfaction at different combinations of goods, you can plot these points to create the indifference curves on a graph.
Can two indifference curve have the same utility?
indifference curve is the loci of points, where each represents a combination of goods in different ratios but gives equal amount of satisfaction. indifference curves help us to know which combinations of goods give us equal satisfaction and which increase it. they dont intersect eachother thus its not possible for two indifference curves to have the same level of satisfaction.
What is the concept of a utility function and how does it relate to maximizing utility in decision-making processes?
A utility function is a mathematical representation of an individual's preferences and satisfaction levels. It helps in quantifying how much value or satisfaction a person derives from different choices or outcomes. In decision-making, the goal is to maximize utility by selecting the option that provides the highest level of satisfaction or value based on the individual's preferences. By using a utility function, decision-makers can compare and evaluate different choices to make the best decision that aligns with their preferences and goals.
What is indifference Curve?
indifference curve is the graphical representation of the bundles of commodities for a given income level or budget that yields equal satisfaction at all the points.
What is the different between indifference map and indiffirence curve?
Indifference curve is a curve that shows consumption bundles that give the consumer the same level of satisfaction. Indifference map, on the other hand Indifference curve is a graph of two or more indifference curves.
Can indifferent curves cross each other?
no because if crossed they different level of satisfaction
How can one graph indifference curves from utility functions?
To graph indifference curves from utility functions, you can plot different combinations of two goods that give the same level of satisfaction or utility to a consumer. Each indifference curve represents a different level of utility, with higher curves indicating higher levels of satisfaction. By using the utility function to calculate the level of satisfaction at different combinations of goods, you can plot these points to create the indifference curves on a graph.
What happens to the level of satisfaction among customers if the performance of products or services is lower than their expectation?
satisfaction level decreases
HR IS effect the employee satisfaction level in Pakistan?
Yes. HR is resposible in effecting (improving) the employees satisfaction level in Pakistan.
What is your level of satisfaction with the keyword "customer service" on a scale of 1 to 10?
My level of satisfaction with the keyword "customer service" is 8 out of 10.
What is the meaning of level of satisfaction?
level of satisafacion means that you are satisfied of of what you have achieve.
What are the objectives of job satisfaction in an organization?
· To discover the various expectations those determine the satisfaction level of employee(s). · To measure the level of satisfaction of employees with respect to the company. · To judge the level of job satisfaction of employees on various parameters. · Working conditions · Salary structure/ Perquisites/ Other benefits · Relationship with employees of company · Policies of company
How do you measure customer level of satsafaction?
You can measure the customer's level of satisfaction based on the feedback that he will provide.
What is an Index of Work Satisfaction form?
An "Index of Work Satisfaction form" would be a form used in a survey intended to assess the satisfaction of a work force and to develop a numerical index to describe their aggregate level of satisfaction or dissatisfaction.
Which questions should you ask to patient to know their satisfaction level?
yes
