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Explain and properties of indifferent curve

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Explain and properties of indifferent curve

    • Posted by Ashwani Karsh 6 years, 10 months ago

    CBSE > Class 12 > Economics
    • 3 answers

    Parichay Story 6 years, 10 months ago

    1. I.C is downward sloping from left to right 2. I.C is convex to the origin 3. Two IC never intersect each other 4. Higher IC represents higher satisfaction

    1Thank You

    Tanu Saharawat 6 years, 10 months ago

    2. Higher indifference curve gives higher level of satisfaction:- A higher indifference curve give higher level of satisfaction because of monotonic preference

    1Thank You

    Tanu Saharawat 6 years, 10 months ago

    1. I.C. IS CONVEX TO THE ORIGIN :- IC IS CONVEX TO THE ORIGIN BECAUSE OF DIMNISHING MARGINAL RATE OF SUBSTITUTION (MRS), MRS DECLINES CONTINUOSLY BECAUSE OF DIMNISHING LAW OF MARGINAL UTILITY

    2Thank You

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