The slope of a country's social indifference curve is called:
A) the marginal rate of expansion.
B) the marginal rate of substitution.
C) the marginal rate of transformation.
D) the marginal benefits of trade.
E) the marginal rate of utility.

Question

Quizplus · Accepted Answer

The slope of a country's social indifference curve is called the marginal rate of substitution (MRS), which measures the rate at which a society is willing to substitute one good for another while maintaining the same level of utility.

The Slope of a Country's Social Indifference Curve Is Called