Write and explain the property
of inofifference (curve.is
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4 Important Properties of Indifference Curve (with curve diagram)
Property I. Indifference curves slope downward to the right: ...
Property II: Indifference curves are convex to the origin: ...
Property III: Indifference curves cannot intersect each other: ...
Property IV: A higher indifference curve represents a higher level of satisfaction than a lower indifference curve:
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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.
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