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Explain three characteristics of indifference curve.

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Three properties or Characteristics of indifference curve are. 

(i) Sloping downwards from left to right : The curve is negatively sloped because to obtain more quantity of one good the consumer must give up some quantity of the other good in order to remain at the same utility level the curve represents. 

(ii) Strictly Convex Towards the Origin : It is because the marginal rate of substitution continuously declines the consumer moves down wards along the curve. This is due to the law of diminishing marginal utility.

(iii) Higher indifference curve represents higher utility : This is because of the assumption that preferences are monotonic and more quantity consumed means more utility. Higher indifference curve represents more quantity of good. 

(iv) Indifference curve can never intersect each other etc.

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