Question

what is indifference curve ?state three properties of indifference curves.

Answer 1

There are four importantproperties of indifference curvesthat describe most of them: (1)Indifference curves are downward sloping, (2) higherindifference curves are preferred to lower ones, (3) indifference curves cannot intersect, and (4)indifference curves are convex (i.e. bowed inward).

Answer 2

It refers to all combinations or 2 goods which gives same level of satisfaction         properties of indifference curve 1. Convex to the origin 2. Higher indifference curve show higher level of satisfaction 3. 2 indifference curve do not intersect each other