The magnitude of the slope of an indifference curve is the
A) marginal rate of substitution.
B) rate of relative prices.
C) marginal utility of substitution.
D) marginal rate of utility of income.
E) rate of increasing opportunity cost.

Question

Quizplus · Accepted Answer

The magnitude of the slope of an indifference curve is the marginal rate of substitution, which measures how much of one good a consumer is willing to give up to obtain an additional unit of another good while remaining on the same level of utility or satisfaction.

The Magnitude of the Slope of an Indifference Curve Is