Explain any two properties of indifference …
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Sia ? 6 years, 4 months ago
1. An indifference curve always slopes downward. It implies that to increase the consumption of X-good,the consumer has to reduce the consumption of Y-good so that to remain at the same level of satisfaction .
2. An indifference curve is convex to the origin. This property is based on the principle of diminishing marginal rate of substitution. It implies that as the consumer substitute X for Y, the MRS between them goes on diminishing.
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