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The following are key characteristics of Indifference Curves, EXCEPT: Any point on an indifference curve generates the same level of consumer's...
The following are key characteristics of Indifference Curves, EXCEPT:
- Any point on an indifference curve generates the same level of consumer's utility.
- Indifference Curves cannot cross between each other.
- Indifference Curves between two goods are Concave to the Origin.
- An indifference Curve between two close substitutes are wide-open.
