The 4 Properties of Indifference Curves

The four properties of indifference curves: Higher indifference curves are preferred to lower ones; Indifference curves are downward sloping; Indifference curves do not cross; Indifference curves are bowed inwards; 1st property – Higher indifference curves are preferred to lower ones This is true because consumers usually prefer more of something to less of it. Where … Continue reading The 4 Properties of Indifference Curves