Flip It Indifference Curves Notes - u25cf u25cf u25cf...

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Indifference curves have two important assumptions: first, bundles of goods located on indifference curves farther from the origin are preferred because those bundles contain more of at least one good and second, the slope of an indifference curve is negative. This is because in order to remain indifferent between two bundles, a bundle that contains more nickels must have fewer dimes and vice versa Most goods are not perfect substitutes, which means the indifference curves will not be straight lines As we consume more and more units of the same good, the enjoyment from consuming

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