Characteristics of Indifference Curve?


Some characteristics of an indifference curve include a lack of intersection and being convex near the origin. A negative slope is another characteristic. Utility maximization is another important subject matter regarding the curves.
Q&A Related to "Characteristics of Indifference Curve?"
indifferent curves are convex to their origin, they do not intersect, and have a negative slope.
Points on the same indifference curves correspond to equally preferred bundles of goods. No two distinct indifference curves can cross. Over some region, having more goods is preferred
In economics, indifference curves are graphical representations of consumer preferences for a bundle of two goods, subject to income constraints. Any single point on an indifference
In economics, a graph of the various levels of utility achieved at different prices through buying two commodities, for example, magazines and paperback books. It is possible to imagine
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1) Concave down. 2) Always decreasing. 3) Represents a fixed utility value (and therefore can never intersect another indifference curve) 4) Is considered equally ...
The indifference curve is convex to origin due to the substitution of commodity x for commodity y. Indifference curves are convex to the origin if MRS exists. ...
The shape of the indifference curve resembles a slanting L-shape. It is used in graphs depicting good undesired by the consumer. This curve is usually used to ...
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