Q10: An indifference curve gives
consumers.
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Indifference curve is the graphical representation of bundles of goods which provide same utility. The slope of indifference curve is the marginal rate of substitution (MRS), which shows that to consume one more unit of good, there is opportunity cost of the foregone good.
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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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