Economics · Consumer Behaviour
An indifference curve is convex to the origin because of:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Constant consumer income
- 2Increasing marginal rate of substitution
- 3Diminishing marginal rate of substitution✓
- 4Constant marginal rate of substitution
Correct answer
Diminishing marginal rate of substitution
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