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Properties of indifference curves?
1.
Properties of indifference curves?
Answer»
Properties of Indifference curves are :-
IC
slopes
downw
ard
-
IC
slop
es
downward
beca
use
of
monotoni
c
preference
.
IC
is
convex
to
origin
-
IC
is
convex
to
origin
DUE
to
the
margina
l
rate
of
substitution
High
er
IC
shows
hig
her
rate
of
satisfaction
-
As
higher
IC
have
hig
h
rate
of
goo
ds
that
's
why
it
GAVE
high
er
sati
sfaction
.
IC
don
't
cro
ss
or
intersect
IC
do
n't
tou
ch
X
or
y
AXIS
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