INDIFFERENCE 
            CURVE ANALYSIS
                            
                             Dr. Aruni Kumar
     24/04/2020       Stay at Home Stay Safe    1
                            DEFINITION: IC
              An Indifference curve (IC) is the locus of 
              all those combination of two goods which 
              give the same level of satisfaction to the 
              consumer. 
              Thus consumer is indifferent  towards  all 
              the  combinations  lying  on  the  same 
              indifference  curve.  In  other  words, 
              consumer gives equal preference to all 
              such combinations. 
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                                    INDIFFERENCE CURVES 
                                     
                                        24
                                        22         A(1, 22)
                                        20
    INDIFFERENCE SCHEDULE               18
                                                                 )
        (Table Showing Different                                4
                                        16                    ,1
       Combinations giving Equal                            (2
                                        14                B            )
              Satisfaction)                                          10
                                                                   , 
                                        12                       (3        )
    Combination  Apples    Oranges                              C         8
                                        10                               ,        )
                                                                        4        7
         A           1        22                                       (        , 
                                        s                            D         5
                                          8                                   (
                                        e                                    E
         B           2        14        g
                                          6
                                        n
                                        a
         C           3        10          4
                                        r
                                        O
         D           4         8          2                        Apples
                                          0
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         E           5         7
                                                 1     2      3       4       5      6
                                 INDIFFERENCE CURVES 
                                  
                                    24
                                    22       A(1, 22)
                                    20
   INDIFFERENCE SCHEDULE            18
                                    16                    4)
   Combination  Apples   Oranges                      (2,1
                                    14              B           )
                                                               0
                                                             , 1
       A           1       22       12                     (3      )
                                                          C      , 8
       B           2       14       10                          4        )
                                                                (      , 7
                                      8                       D       5
       C           3       10       s                                E(
                                    e  6
       D           4        8       g
                                    n  4                               IC
                                    a                                      1
       E           5        7       r
                                    O  2                           Apples
                                      0
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                                             1     2      3       4       5