What is the slope of an indifference curve
A)the rate of change of consumer's preferences
B)the marginal rate of exchange
C)the marginal rate of substitution
D)the slope of the budget constraint

Question

Quizplus · Accepted Answer

The slope of an indifference curve represents the marginal rate of substitution (MRS), which is the rate at which a consumer is willing to exchange one good for another while keeping the same level of utility. Therefore, the correct answer is C - the marginal rate of substitution. A and D are incorrect because they do not accurately describe the slope of an indifference curve, and B is similar to C but refers specifically to the exchange of goods for a given market price.

What Is the Slope of an Indifference Curve