Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 6.A, Problem 12SQ
To determine

The movement downward along indifference curve and the marginal rate of substitution.

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b. i. Explain the concept of Marginal Rate of Substitution (MRS) as an important tool of indifference curve analysis of demand
1.In income substitution effects acts in opposite direction, then the total effect on consumption is always negative. (T/F)
t is known that the indifference curve is convex. What does this tell you about the relationship between the goods?
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