Difference between “Indifference Curve” and Indifference Map” – Explained!

A lower indifference curve, on the other hand, represents lesser quantities of both the commodities and hence it represents lesser level of satisfaction”. In Fig. 5.1, IC, represents indifference curve depicting lowest satisfaction, IC2 represents higher satisfaction than IC1 and so on. Highest satisfaction is depicted by indifference curve IC1. Every individual indifference curve however […]