Question

Explain “properties of indifference curve” with graph.​

Answer 1

Answer:

Indifference curves slope downward to the right: This property implies that an indifference curve has a negative slope. This property follows from assumption I. Indifference curve being downward sloping means that when the amount of one good in the combination is increased, the amount of the other good is reduced.

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Answer 2

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☞The four properties of indifference curves are: (1) indifference curves can never cross, (2) the farther out an indifference curve lies, the higher the utility it indicates, (3) indifference curves always slope downwards, and (4) indifference curves are convex.

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