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Indifference Curve Theory

 Indifference curve is  such a  curve which shows the same  level of satisfaction at given income of the consumer and market price.

 Definition

Indifference curve is such a curve whose every point shows the different bundle of two goods which yield same level of satisfaction at given income of the consumer and market price.

Properties of indifference curve

1. Indifference curve  is negatively sloped from left to right.

2. Two different Indifference curve never intersect each other.

3. Indifference  curve is convex to the origin.

4. Indifference curve does not touches either axis.

 Indifference Map

When more than one Indifference curves are depicted in a single graph is called Indifference map.








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