Figure 2.5 (b) in the text explains that:
A) If an individual has a lower valuation of leisure, then the slope of his indifference curve is steeper.
B) If an individual has a higher valuation of consumption, then the marginal rate of substitution of consumption over leisure is higher.
C) If an individual has a higher valuation of consumption, then the slope of his indifference curve is flatter.
D) If an individual has a lower valuation of leisure, then the marginal rate of substitution of consumption over leisure is higher.
Correct Answer:
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