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What are the properties of indifference curves, ICs?

Asked by Topperlearning User 25th April 2016, 11:03 AM
Answered by Expert

Properties of indifference curves are

i. Higher indifference curve offers higher preferences to consumers

ii. ICs are convex to the origin because MRS tends to diminish

iii. ICs are sloped downwards or negatively sloped

iv. ICs never touch or intersect each other

Answered by Expert 25th April 2016, 1:03 PM
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