What is an Indifference Curve? What are characteristics of indifference curves? Explain.
Yenglik Sharden
This research paper will be focused on Indifference curve and its characteristics. First, we
have to find out what is Indifference curve and when we can to use it. According to
investopedia.com, an indifference curve is a graph shows a combination of two goods that give a
consumer equal satisfaction and utility, thereby making the consumer indifferent. Indifference
curve also has been called as “utility curve”. We measure value through the catch-all term
“utility”, a concept for the value, well-being, satisfaction, benefit, etc. that someone receives. As
I have expressed before, the utility is a relatively abstract concept; people constantly face trade-
offs between current satisfaction and later success or happiness. We can examine utility from a
short or long-term perspective in most cases, pondering the existential question of which
