Question

state the features of indifference curve​

Answer 1

Answer:

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✒ What is an Indifference Curve ?

• 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.

✒ Features of Indifference Curve :-

• Indifference curves slop downward to the right.
• Every indifference curve to the right represents a higher level of satisfaction.
• Indifference curves cannot intersect each other.
• Indifference curve will not touch the axis.
• Indifference curves are convex to the origin

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