Question

Define indifference curve. Explain the properties of indifference curve.

Answer 1

Answer:

Indifference curve refers to the graphical representations of various alternative combination of two goods which give same level of satisfaction to the consumer.

Properties of indifference curve are given below:

1) An indifference curve is down ward sloping.

2) The indifference curve is convex to the origin.

3)A higher indifference curve represents a higher level of satisfaction.

Explanation:

Hope it helps you.✌️

Answer 2

Indifference curve refers to the graphical representation of various alternative combinations of bundles of two goods among which the consumer is indifferent .

Properties :-

♥ They are always convex to the origin .

♥ They slope downwards .

♥ They represent higher levels of satisfaction .

♥ They can never intersect each other .