The slope of the indifference curve is referred to as
A)the marginal rate of substitution.
B)the price ratio.
C)the marginal rate of consumption.
D)the marginal tradeoff rate.

Question

Quizplus · Accepted Answer

The slope of an indifference curve measures the rate at which a consumer is willing to trade off one good for another while maintaining the same level of utility. This is referred to as the marginal rate of substitution (MRS), which is the amount of one good a consumer is willing to give up in exchange for one more unit of another good.

The Slope of the Indifference Curve Is Referred to as