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An indifference curve measures _________ level of satisfaction derived from different combinations of commodity X and Y.
same
higher
lower
minimum
An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Thus, In other words, an indifference curve is a curve on which all the combinations of two commodities give a consumer equal satisfaction. A consumer indifferent towards different combinations located on such a curve. Indifference Curve: Concept Properties Features Examples. Indifference curves operate under many assumptions, for example, each indifference curve is convex to the origin, and no two indifference curves ever intersect. ... If a consumer's income increases, the curve will move higher up on a graph because the consumer can now afford more of each type of good.
By: Amit Kumar ProfileResourcesReport error
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