Define an indifference curve explain why an.indifference curve is downward sloping from left to right
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Indifference curve is the graphical reperesentaion of consumer' s behaviour where every point on the curve or graph shows same level of satisfaction...
It is indifference to the consumer as wherever you were on the indifference curve the level of staisfaction will be same...
A slope of curve is downward because of inverse relationship between the quantites...If consumer want to consume more of one commodity , he has to scarifice other...This makes the slope downward...
See snap..
It is indifference to the consumer as wherever you were on the indifference curve the level of staisfaction will be same...
A slope of curve is downward because of inverse relationship between the quantites...If consumer want to consume more of one commodity , he has to scarifice other...This makes the slope downward...
See snap..
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The indifference curves must slope down from left to right. This means that an indifference curve is negatively sloped. It slopes downward because as the consumer increases the consumption of X commodity, he has to give up certain units of Y commodity in order to maintain the same level of satisfaction
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