What are the main properties of indifference curve

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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?

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?

Reference no: EM13804987

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