Why is an indifference curve negatively sloped ? explain?
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IC curve - shows combination of 2 goods that gives equal satisfaction and utility at each point. it is negative slope because of fall in MRS (marginal rate of substitute).....☺ I hope it will help you.
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The indifference curves must slope down from left to right. This means that an indifference curve is negatively sloped. It slopes downward because as the consumer increases the consumption of X commodity, he has to give up certain units of Y commodity in order to maintain the same level of satisfaction.
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