Don't see your answer below? Submit your question and get an answer from the WikiAnswers® community.

Do indifference curve meet?

Indifference curves are the graphical representation of the preferences of an individual. In microeconomics there are three assumptions about preferences in order for them to (MORE)

Why indifference curve is convex to origin?

Indifference curve is convex to the origin.This means that the slope of indifference curve decreases as we move the curve from left to right.This can be explained in terms of (MORE)

Why indifference curve cannot intersect?

Because if they intersected, they would not be "indiffernece" curves. Imagine two intersecting ICs, call them x and y. That means that all points on y have the same utility. A (MORE)

What are indifference curves explain it using a graph?

o Indifference curves are curves that have a negative slope and are bowed inward. Each point on the line has the same exact util value. In other words, a person would be the (MORE)

Describe the characteristics of indifference curve?

Properties/Characteristics of Indifference Curve:    Definition, Explanation and Diagram: An indifference curve shows combination of goods between which a person is indiff (MORE)