Multiple Choice
Indifference curves are convex to the origin if
A) a person's marginal rate of substitution declines as he or she consumes more of a good.
B) a person's marginal rate of substitution increases as he or she consumes more of a good.
C) the law of diminishing marginal utility does not hold.
D) a person's marginal rate of substitution rises as he or she consumes more of a good.
Correct Answer:
Verified
Correct Answer:
Verified
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