Why is indifference curve convex to origin? a. Due to law of increasing marginal utility O b. Due to continuous decline of marginal rate of substitution O c. С. Due to equal preferences for commodities O d. None of these
Why is indifference curve convex to origin? a. Due to law of increasing marginal utility O b. Due to continuous decline of marginal rate of substitution O c. С. Due to equal preferences for commodities O d. None of these
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 2CQQ
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![ODUCTION TO FOOD AND RESC
NOMICS (10+20)|| Spring 21
Why is indifference curve convex to origin?
a.
Due to law of increasing marginal utility
b. Due to continuous decline of marginal rate of substitution
С.
Due to equal preferences for commodities
d.
None of these
PAGE
Darmaki](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F797e0e9d-3cca-4185-b9c8-6c8e8acf048d%2F80aa31c6-5fa2-4632-932e-73231f923f0a%2Fv0aqnad_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ODUCTION TO FOOD AND RESC
NOMICS (10+20)|| Spring 21
Why is indifference curve convex to origin?
a.
Due to law of increasing marginal utility
b. Due to continuous decline of marginal rate of substitution
С.
Due to equal preferences for commodities
d.
None of these
PAGE
Darmaki
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