Economics · Consumer Behaviour
On an indifference curve, as a consumer substitutes one good for another, the willingness to give up one good for an additional unit of the other typically decreases. This reflects the:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Negative utility
- 2Diminishing MRS (Marginal Rate of Substitution)✓
- 3Constant MRS (Marginal Rate of Substitution)
- 4Increasing MRS (Marginal Rate of Substitution)
Correct answer
Diminishing MRS (Marginal Rate of Substitution)
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