Explain the features of IC
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Characteristics of Integrated Circuits. The integrated circuit (IC) is one of the most complex things ever made. They consist of small squares of silicon, imprinted with microscopic patterns. The patterns may contain hundreds of millions of transistors, resistors and other electronic parts.
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1. Indifference curve slope downwards because some unit of one commodity is sacrificed to gain one additional unit of another commodity.
2. Indifference curve is convex because Marginal rate of substitution decrease.
3. Higher indifference curve represent high level of satisfaction because higher indifference curve includes large number of bundles.
4. Two indifference curve never intersect each other because two indifference curve do not show same level of satisfaction.
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