The slope of an indifference curve is the MRS. This can be defined as the amount of one characteristic (Y) that a consumer is prepared to give up for a one unit increase in the consumption of the other characteristic (X).

Question

Quizplus · Accepted Answer

The slope of an indifference curve is indeed the Marginal Rate of Substitution (MRS), which measures the rate at which a consumer is willing to substitute one good (Y) for another (X) while maintaining the same level of utility.

The Slope of an Indifference Curve Is the MRS