Define indifference curve and what are the main properties, Business Economics

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Define indifference curve and what are the main properties

Question-1: Define Indifference Curve and what are the main properties of Indifference Curve? By using Indifference Curve analysis explain how the consumer attains maximum level of satisfaction?

Question-2: What is difference between Perfect Competition and Monopoly? Give main characteristics of perfectly competitive and monopolist markets. How output and profit level is determined in both of the markets?

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Business Economics: Define indifference curve and what are the main properties

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Business Economics: Define indifference curve and what are the main properties

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