Question

whay is indifference . Explain the three properties of indifference curve

Answer 1

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

Answer 2

Indifference curve refers to the graphical representation of various alternative combinations of bundles of two goods among which the consumer is indifferent .

Properties :-

♥ They are always convex to the origin .

♥ They slope downwards .

♥ They represent higher levels of satisfaction .

♥ They can never intersect each other .