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Explain the properties of indifference curve

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Explain the properties of indifference curve

    • Posted by Abhi Yadav 7 years, 2 months ago

    CBSE > Class 12 > Economics
    • 5 answers

    Mayank Tripathi 7 years, 2 months ago

    1- indifference curve convex to origin because it follow the law of marginal rate of substitution that is a rate at which one good sacrifice for others for equal satisfaction 2- indifference curve not intersect with each other because it is based on monotonic preference so it is parallel to each other 3 IC slopes to left to right downward because it show the combination of two goods which are inversely related to each other 4 IC yield highest satisfaction because it is based on the assumption of monotonic preference that is the greater consumption gives the greater satisfaction

    0Thank You

    Rahul Dwivedi 7 years, 2 months ago

    5. IC does not touch X axis or Y axis

    0Thank You

    Rahul Dwivedi 7 years, 2 months ago

    IC does not intersect each other

    0Thank You

    Rahul Dwivedi 7 years, 2 months ago

    2. IC slops downward 3. IC is convex to the origin

    0Thank You

    Rahul Dwivedi 7 years, 2 months ago

    1. Higher IC shows higher level of Satisfaction

    0Thank You

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