38.Which of the following statements is true?
A) Because total utility is constant along an indifference curve,the marginal rate of substitution is also constant.
B) If an indifference curve is convex,the marginal rate of substitution varies along the curve.
C) The slope of an indifference curve measures the consumer's marginal rate of substitution.
D) Both b) and c) are true.

Question

Quizplus · Accepted Answer

An indifference curve is convex, indicating that the marginal rate of substitution (MRS) varies along the curve. The slope of the indifference curve represents the MRS, which is the rate at which a consumer is willing to substitute one good for another while maintaining the same level of utility.

38.Which of the Following Statements Is True