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Economics explained


Behavioral economics

Indifference curve

Indifference curve

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An indifference curve shows all the various combinations of two goods that give an equal amount of satisfaction or utility to a consumer.

Imagine that a supermarket is conducting a survey about the preferences of its customers. You are asked your views about various combinations of chocolate bars and sweet packets.

The important features of the indifference curves is that:

They are usually drawn convex to the origin

They are downward sloping

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