Practicing Success
Practicing Success
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Which of the following is true in regards to indifference curve? |
Upward sloping straight line Downward sloping straight line Concave to the origin Convex to the origin |
Convex to the origin |
The law of "Diminishing Marginal Rate of Substitution" causes an indifference curve to be convex to the origin. This is the most common shape of an indifference curve. |
