Question

OR
What is indifference curve? State three properties of indifference curves.​

Answer 1

Answer:

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Answer 2

Indifference curve is a graph showing combination of two goods. That give the consumer equal level of satisfaction and utility.

Properties

1. Convex to the origin due to diminishing marginal rate.

2. Slope is downward.

3. curves never cross each other.

4. Higher indifference curve lies the highest utility.

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