Question

features of indefference curve​

Answer 1

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Explanation:

There are four important properties of indifference curves that describe most of them: (1) Indifference curves are downward sloping, (2) higher indifference curves are preferred to lower ones, (3) indifference curves cannot intersect, and (4) indifference curves are convex.

Answer 2

Answer:

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.