A means of representing the preferences and well being of consumers. Formally, it is a curve representing the combinations of arguments in a utility function that yield a given level of utility.
a locus of points, which shows the various combinations of two goods that yields equal utility or satisfaction to the individual
(a) The locus of points representing market baskets among which the consumer is indifferent. (MY) for any level of utility, say U1, there is a set of commodity combinations which graphically form an indifference curve representing all combinations yielding the same level of utility - U1. Indifference curves are sometimes called preference curves, i.e. a curve reflecting a constant level of preference, or isoquants, i.e. a curve reflecting a constant quantity of satisfaction or utility. (HHC)
A line that shows combinations of goods among which a consumer is indifferent. (p. 251)
The graphical expression of a utility function, where the horizontal axis measures risk and the vertical axis measures expected return. The curve connects all portfolios with the same utilities according to and .
A curve which illustrates all possible combinations of two goods among which the consumer is indifferent.
A line that shows various combinations of two products among which a consumer equal levels of total utility (is indifferent). An indifference curve is generally downward-sloping, with the slope representing the marginal rate of substitution between the two products. If the line is convex to the origin, it indicates diminishing marginal utility in consumption (the usual case). If the line is linear, it indicates constant marginal utility in consumption (a rare, but possible, case). If the line is concave to the origin, it indicates increasing marginal utility in consumption (a very improbable case).
An indifference curve in microeconomic theory is a graph showing different bundles of goods, each measured as to quantity, to which a consumer is indifferent. That is, at each point on the curve, the consumer has no preference for one bundle over another. Rather, they are all equally preferred.
