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Answer to Question #106821 in Microeconomics for Steve
Question #106821
Indifference curves are convex to the origin because of.....
1) transitivity of consumer preferences
2) assumption of diminishing MRS
3) assumption that more is preferred to less
4) assumption of completeness
5) none of the above options
1) transitivity of consumer preferences
2) assumption of diminishing MRS
3) assumption that more is preferred to less
4) assumption of completeness
5) none of the above options
Expert's answer
2) assumption of diminishing MRS
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#340153 on Dec 2023
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