Indifference Curve
A diagram depicting equal levels of utility (satisfaction) for a consumer faced with various combinations of goods.
Investopedia Says:
As an example, consider the diagram above. This consumer would be most satisfied with any combination of products along curve U3. This consumer would be indifferent between combination Qa1, Qb1, and Qa2, Qb2. Related Terms:
Law of Diminishing Marginal Utility
Total Utility
Utility |