Q398
Normally shaped indifference curves are bowed towards the origin of the graph. The reason for this shape is
A.
The principle of diminishing marginal rate of relative price
B.
The diminishing marginal rate of substitution
AnswerC.
The marginal rate of substitution is constant along an indifference curve
D.
The indifference curves farther away from the origin represent higher levels of utility
Answer: Option B
Solution
Answer: Option B
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