Characteristics of Indifference Curve?

Answer

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.
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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
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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
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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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