Post Utme Ims U 2021 Economics Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice

Question 31 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

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

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 line.

Correct Answer

Correct Option:

The MRS decreases as the consumer moves along the indifference curve.

This is Post Utme Ims U 2021 Economics Question 31. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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