身边的经济学·社会常识英语30篇（2）
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Indifference Curves Show Trade-Offs Without Measuring Utility
无差异曲线展示权衡取舍，而不度量效用
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An indifference curve connects all bundles of two goods that give a consumer exactly the same level of satisfaction.
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Because utility cannot be measured directly, economists use relative rankings rather than numerical scores.
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Each curve slopes downward, reflecting the fact that more of one good requires less of another to maintain equal preference.
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The marginal rate of substitution (MRS) measures how much of good Y a person willingly gives up for one more unit of X.
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MRS declines along the curve, showing diminishing willingness to trade as the consumer holds more of X.
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Curves farther from the origin represent higher preference levels but never intersect each other logically.
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Budget constraints determine which affordable bundle on the highest possible curve a consumer will choose.
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This framework helps explain why people respond differently to price changes even with identical incomes.
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It also clarifies why taxes on specific goods affect choices more than lump-sum taxes of equal value.
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Though abstract, indifference curves underpin real-world policy analysis like food stamp design or carbon pricing.