Indifference curve
Overview
 
In microeconomic theory, an indifference curve is a graph
Graph of a function
In mathematics, the graph of a function f is the collection of all ordered pairs . In particular, if x is a real number, graph means the graphical representation of this collection, in the form of a curve on a Cartesian plane, together with Cartesian axes, etc. Graphing on a Cartesian plane is...

 showing different bundles of goods between which a consumer is indifferent. That is, at each point on the curve, the consumer has no preference
Preference (economics)
In economics and other social sciences, preference refers to the set of assumptions related to ordering some alternatives, based on the degree of happiness, satisfaction, gratification, enjoyment, or utility they provide, a process which results in an optimal "choice"...

 for one bundle over another. One can equivalently refer to each point on the indifference curve as rendering the same level of utility
Utility
In economics, utility is a measure of customer satisfaction, referring to the total satisfaction received by a consumer from consuming a good or service....

 (satisfaction) for the consumer. Utility is then a device to represent preference
Preference
-Definitions in different disciplines:The term “preferences” is used in a variety of related, but not identical, ways in the scientific literature. This makes it necessary to make explicit the sense in which the term is used in different social sciences....

s rather than something from which preferences come.
 
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