Question

example the Various proparties indifferent curve?

Answer 1

Heya user! here ur answer!

Properties of indifferent curve are:

1.IC slopes downward: IC slope download from left to right .It means that it has a negative slope .It implies that if the consumer decide to have more of one good he must have less of other .


2. IC is convex to the origin : It is because MRS stands to decline as we move along the curve left to right .
MRS(marginal rate of substitution ) refers to the rate at which the consumer is willing to substitute one good for other.

3.Higher IC shows higher level of satisfaction.