What are the three properties of indifference curves for two

What are the three properties of indifference curves for two goods?

Items (7 items) (Drag and drop into the appropriate area below)

a higher indifference curve is preferred to a lower one

cannot cross

depend on budget constraint

convex with respect to origin

cannot be thick

concave with respect to the origin

include a substitution effect and an income effect

Categories

Characteristic of IC

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Not a Characteristic

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Solution

Characteristic of IC

a higher indifference curve is preferred to a lower one

- a higher indifference curve means larger quantities and larger quantities always give better satisfaction level to the consumers, hence higher indifference curve is preferred to the lower one.

cannot cross

- larger quantities give better satisfaction level to the consumers, hence it is not possible for that same level of satisfaction is received eceb when there is a larger quantity hence they don\'t intersect.

convex with respect to origin

- this happens because of the Marginal rate of substitution. Additional utility from a good decreases as quantity supplied increased for the good because of diminishing marginal utility, in this case consumer gives up more quantity of this good to get the other one which he has in less quantity.

Not a Characteristic

depend on budget constraint

cannot be thick

concave with respect to the origin

include a substitution effect and an income effect