Explain concept of indifferences curve with
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Aɴ ɪɴᴅɪғғᴇʀᴇɴᴄᴇ ᴄᴜʀᴠᴇ ɪs ᴀ ɢʀᴀᴘʜ sʜᴏᴡɪɴɢ ᴄᴏᴍʙɪɴᴀᴛɪᴏɴ ᴏғ ᴛᴡᴏ ɢᴏᴏᴅs ᴛʜᴀᴛ ɢɪᴠᴇ ᴛʜᴇ ᴄᴏɴsᴜᴍᴇʀ ᴇϙᴜᴀʟ sᴀᴛɪsғᴀᴄᴛɪᴏɴ ᴀɴᴅ ᴜᴛɪʟɪᴛʏ. ... Tᴏ ᴛʜᴇ ᴄᴏɴsᴜᴍᴇʀ, ʙᴜɴᴅʟᴇ A ᴀɴᴅ B ᴀʀᴇ ᴛʜᴇ sᴀᴍᴇ ᴀs ʙᴏᴛʜ ᴏғ ᴛʜᴇᴍ ɢɪᴠᴇ ʜɪᴍ ᴛʜᴇ ᴇϙᴜᴀʟ sᴀᴛɪsғᴀᴄᴛɪᴏɴ. Iɴ ᴏᴛʜᴇʀ ᴡᴏʀᴅs, ᴘᴏɪɴᴛ A ɢɪᴠᴇs ᴀs ᴍᴜᴄʜ ᴜᴛɪʟɪᴛʏ ᴀs ᴘᴏɪɴᴛ B ᴛᴏ ᴛʜᴇ ɪɴᴅɪᴠɪᴅᴜᴀʟ.
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Definition:- An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. ... To the consumer, bundle A and B are the same as both of them give him the equal satisfaction. In other words, point A gives as much utility as point B to the individual.
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