Question

define Indifference Curve??

Answer 1

an indifference curve connects points on a graph representing different quantities of two goods, points between which a consumer is indifferent. That is, the consumer has no preference for one combination or bundle of goods over a different combination on the same curve. One can also refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. In other words, an indifference curve is the locus of various points showing different combinations of two goods providing equal utility to the consumer. Utility is then a device to represent preferences rather than something from which preferences come.The main use of indifference curves is in the representation of potentially observable demand patterns for individual consumers over commodity bundles

Answer 2

Heya....

See here for your answer....

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What is Indifference Curve ??

Ans --

It is the curve showing the different possible combinations of two goods that gives equal satisfaction to the consumer......

It's properties...

** Higher IC gives higher satisfaction

** Two IC never touch each other ..

** IC never touch X and Y axis..

** IC curve is convex to the origin ..

** IC curve is sloping downwards..

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