• Indifference curves can be used in analysis of exchange for example they can be used in analyzing exchange of commodities among individuals countries, regions or groups.
• They are used to explain complementary goods.
• They can be used to classify goods as their being perfect.
• They helps in analysis of costs of living. They can be used to establish whether a period of time during which both money and income and price have been changing the consumer is better or worse off.
• They can be used in analysis of leisure income trade off and need for overturn rates higher than the normal wage rate.
skilled writter answered the question on April 26, 2018 at 17:05
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