Indifference Curve Analysis I would like to analyse how COVID-19 has impacted the aviation industry by looking at how the demand for airlines + holidays has fallen via an indifference curve analysis. However, I'm not sure where to start
Would the indifference curve shift inwards?
Indifference curves represent preferences. Preferences are usually assumed to be stable, i.e. they do not change. So no, indifference curves don't shift.