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What is indifference curve approach?

indifference curve approach show the combination of two goods that an individual would be willing to buy, and which would make the buyer equally satisfied (or different). indi (MORE)

Why indifference curves are always negatively sloped?

  its something to do with a non satiation assumption. ie if all the bundles on the indifference curve are "goods" (actively wanted products) then the indifference curve s (MORE)

What are the three characteristics of the demand curve?

Characterstics of demand curve are-- 1) It is a curve from left to right 2) It shows the quantity demanded and price of a commodity 3) Higher the price lesser is the qua (MORE)

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 curves usually not be upward sloping?

Indifference curves are typically not upward sloping because they represent tradeoff's between economic "goods," things we like to have.  For example, you might be willing to (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 is indifference Curve?

indifference curve is the graphical representation of the bundles of commodities for a given income level or budget that yields equal satisfaction at all the points.
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Why indifference curve cannot cross?

  Because no set of products provide two level of satisfaction and no rational consumer prefers less to more.
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