Question

What are Characteristics of Indifference curve ? ( For 5 Marks )​

Answer 1

Explanation:

1. They Slope Negatively or Slope Downwards from the Left to the Right

2. They are Convex to the Origin of Axes

3. Every Indifference Curve to the right represents Higher Level of Satisfaction than that of the Proceeding One and Others.

4. Indifference Curves can neither touch nor Intersect each other, so that one Indifference Curve Passes through only one Point on an Indifference Map

5.In reality, Indifference Curves are like Bangles