Economics · Consumer Behaviour
Why are standard indifference curves typically convex to the origin?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Due to the diminishing marginal rate of substitution (MRS)✓
- 2Due to an increasing marginal rate of substitution (MRS)
- 3Because total utility remains constant at all levels of income
- 4Because the goods are perfect substitutes for each other
Correct answer
Due to the diminishing marginal rate of substitution (MRS)
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