Navsari Agricultural University
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Concept of Indifference Curve
Indifference Map
Characteristics or Properties of Indifference Curve
Budget Line
Least Of Combinations
Marginal rate of Substitution (MRS)

Characteristics or Properties of Indifference Curve:
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IC slopes downward from left to right.
It is convex to the origin.
ICs are non-intersecting.
IC placed above represents higher level of satisfaction and vice-versa.
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