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What are the principal properties of ICs?

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What are the principal properties of ICs?

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The four principal properties of ICs are:

  1. A higher IC (which is to the right and above another IC) offers a higher level of satisfaction.
  2. ICs are convex to the origin, so that MRS tends to diminish.
  3. ICs are negatively sloped, or they slope downward.
  4. ICs never touch or intersect each other.
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