explain the properties of indiffernce curve with in an example and diagram
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Property I. Indifference curves slope downward to the right: 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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An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility.
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