Definition: An indifference curve is represented for example on a graph whose horizontal and vertical axes are
quantities of goods an individual might consume, an indifference curve
represents a contour along which utility for that individual is constant. The
indifference curve represents a set of possible consumption bundles between which the
individual is indifferent. Normally, with desirable goods on both axes (say,
income today and income tomorrow) the curve has a certain shape, further from
the origin when both quantities are positive than when one is zero.
(Econterms)
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