Post Utme Skyline University 2024 Economics Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2024 Economics Objective / Multiple Choice
Question 16 POST_UTME_SKYLINE_UNIVERSITY • 2024 • 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.
B. The MRS increases as the consumer moves along the indifference curve.
Correct Answer C. The MRS decreases as the consumer moves along the indifference curve.
D. The MRS is zero at the point of \tangency with the budget line.
Correct Answer
C
Correct Option:
The MRS decreases as the consumer moves along the indifference curve.

About This Question

This is Post Utme Skyline University 2024 Economics Question 16. It is one of the objective questions from the 2024 Post Utme Skyline University Economics examination.

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