Question

explain this assumption of indifference curve; habits and preferences remains unchanged. ​

Answer 1

Answer:

The assumptions of the ordinal theory are the following: (4) The prices of the two goods are given. (5) The consumer's tastes, habits and income remain the same throughout the analysis. (6) He prefers more of X to less of Y or more of Y to less of X. (7) An indifference curve is negatively inclined sloping downward.

Hope this is helpful for you

Answer 2

Assumption of indifference curves are1

1. Money income of consumer is given.
2. The consumer spends his income on such goods which can substitute for each other
3. Consumers preference for two goods is well defined
4. Monotonic preference
5. The consumer is rational.