In microeconomic theory
, an indifference curve
is a graph
showing different bundles of goods
, each measured as to quantity, between which a consumer is indifferent.
That is, at each point on the curve, the consumer has no preference
for one bundle over another. In other words, they are all equally preferred. One can equivalently refer to each point on the indifference curve as rendering the same level of utility
(satisfaction) for the consumer. Utility is then a device to represent preferences
rather than something from which preferences come (Geanakoplis, 1987, p. 117). The main use of indifference curves is in the representation
of potentially observable demand
patterns for individual consumers over commodity bundles (Böhm and Haller, 1987, p. 785).