Economy, asked by Parthasaha8471, 9 months ago

Define indifference curve and its main characteristics

Answers

Answered by Anonymous
3

Answer:

An indifference curve is a graphical representation of a combined products that gives similar kind of satisfaction to a consumer thereby making them indifferent. Every point on the indifference curve shows that an individual or a consumer is indifferent between the two products as it gives him the same kind of utility.

Answered by sakshisingh27
12

Answer:

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Explanation:

There are four important properties of indifference curves that describe most of them: (1) They are downward sloping, (2) higher indifference curves are preferred to lower ones, (3) they cannot intersect, and (4) indifference curves are convex (i.e. bowed inward).

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