Can achieve higher indifference curve than the gift of a fruit cake. Retailers selling inferior goods would prefer to sell gift certificates. Any two goods or activities can be on the axes. Necessary to adapt constraint to fit the situation. The Relationship between Indifference Curve Analysis and Demand Curves Individual Demand Individual demand curves are derived using indifference curve analysis.
Market demand is the sum of all the individual demand curves.
Sum individual demands horizontally. At each price, sum the quantity demanded by each individual. Plot the price-total quantity demanded combination. Repeat for all possible prices. Wages already higher that at rivals so higher wage will not attract more workers.