Business Studies, Sample Thesis Papers

Thesis: Numerous Indifference Curves

Numerous indifferent curves are possible within a single leisure-work model. They form a map that shows curves moving farther from the origin. The curve farthest from the origin derives the maximum utility for the worker. However, due to various constraints particularly on budget, there is limitation to the possibility of infinitely high rate of utility that an individual can reap at any point in time.

This budget constraint is represented as a line with the highest possible combination income and time. The gradient calculated as the change on income divided by the change in time spent on leisure reflects the wage rate. An individual will choose any combination along the line that will derive him/her the highest utility and satisfaction. This is possible by choosing the point that is in the highest indifference curve.

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