Indifference curves that are convex to the origin imply which of the following?
A)increasing marginal utility
B)diminishing marginal rate of substitution
C)As we move down an indifference curve, the slope gets steeper.
D)constant prices of goods

Question

Quizplus · Accepted Answer

Indifference curves that are convex to the origin imply diminishing marginal rate of substitution, which means the consumer is willing to trade less and less of one good as they acquire more of it, in exchange for the other good. This is due to the decreasing marginal utility of this good.

Indifference Curves That Are Convex to the Origin Imply Which