Which of the following statements is true?
A) Because total utility is constant along an indifference curve, the marginal rate of substitution is also constant.
B) If an indifference curve is convex, the marginal rate of substitution varies along the curve.
C) The slope of an indifference curve measures the consumer's marginal rate of substitution.
D) Both b) and c) are true.
Correct Answer:
Verified
Q4: Which of the following statements is false?
A)Marginal
Q21: A _ measures the level of satisfaction
Q23: If indifference curves are upward sloping, this
Q27: Indifference curves have a negative slope when
A)
Q27: Which of the following statements best explains
Q29: Which of the following statements is false?
A)If
Q29: Suppose the marginal rate of substitution of
Q30: Suppose that a consumer has utility function
Q32: Suppose that MRSx, y = 10.
A) The
Q40: The principle of diminishing marginal utility implies:
A)indifference
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