Refer to the information provided in Figure 6.15 below to answer the questions that follow. Figure 6.15
-Refer to Figure 6.15. The slope of the indifference curve is the ratio of the
A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches.
B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones.
C) total utility of ice cream cones to the total utility of ice cream sandwiches.
D) total utility of ice cream sandwiches to the total utility of ice cream cones.

Question

Refer to the information provided in Figure 6.15 below to answer the questions that follow.  Figure 6.15
-Refer to Figure 6.15. The slope of the indifference curve is the ratio of the
A) marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. 
B) marginal utility of ice cream sandwiches to the marginal utility of ice cream cones. 
C) total utility of ice cream cones to the total utility of ice cream sandwiches. 
D) total utility of ice cream sandwiches to the total utility of ice cream cones.

Quizplus · Accepted Answer

The slope of the indifference curve is the ratio of the marginal utility of ice cream cones to the marginal utility of ice cream sandwiches. This is because the slope of the indifference curve represents the rate at which the consumer is willing to trade one good for another while remaining on the same level of satisfaction.

Refer to the Information Provided in Figure 6