Question

explain indifference curve and properties of indifference curve

Answer 1

an indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. each point of indifference curve indicates that a consumer is indifferent between the two all points give him the same utility. properties of indifference curve are ..1.. indifference curves are downward sloping..2..higher indifference are preferred to lower ones..3.. indifference curves cannot intersect..4.. indifference curves are convex. I hope this answer can help u.

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 .