Multiple Choice
If an indifference curve is smooth and convex to the origin, then:
A) the two goods are said to be concave combinations of each other.
B) there is a diminishing marginal rate of substitution.
C) the two goods are said to be convex combinations of each other.
D) the indifference curve is said to be normal.
Correct Answer:
Verified
Correct Answer:
Verified
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