Post Utme Igbinedion University 2018 Economics Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2018 Economics Objective / Multiple Choice
Question 6 POST_UTME_IGBINEDION_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's indifference curve is downward sloping and convex to the origin. What is the implication of this shape on the consumer's marginal rate of substitution (MRS)?

Answer Options

A. The MRS is cons\tant along the indifference curve.
Correct Answer B. The MRS decreases as the consumer moves along the indifference curve.
C. The MRS increases as the consumer moves along the indifference curve.
D. The MRS is zero at the point of \tangency with the budget constraint.
Correct Answer
B
Correct Option:
The MRS decreases as the consumer moves along the indifference curve.

About This Question

This is Post Utme Igbinedion University 2018 Economics Question 6. It is one of the objective questions from the 2018 Post Utme Igbinedion University Economics examination.

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