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Indifference Curve

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PPGPortal > Home > Concept Dictionary > I, J > Indifference Curve
 

Indifference Curve  

A set of consumption bundles between which a consumer is indifferent.

(Dwayne Benjamin, Toronto PPG 1002H)

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If one bundle of goods can be replaced by another and the consumer remains equally happy, the two bundles lie on the same indifference curve. The graphic below is an example of an indifference curve. In this two good model, the consumer is made equally happy by all of the consumption bundles found on the indifference curve.

     

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