History of indifference curve analysis
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it always slope downward from left to right due to law of dmu
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Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility.
Description: Graphically, the indifference curve is drawn as a downward sloping convex to the origin. The graph shows a combination of two goods that the consumer consumes.
Description: Graphically, the indifference curve is drawn as a downward sloping convex to the origin. The graph shows a combination of two goods that the consumer consumes.
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