Question

Convexity of Indifference curve implies ________Marginal Rate of Substitution (MRS​

Answer 1

Explanation:

Most indifference curves are usually convex because as you consume more of one good you will consume less of the other. So, MRS will decrease as one moves down the indifference curve. This is known as the law of diminishing marginal rate of substitution

Answer 2

Answer:

MRS is the slope of the indifference curve at any single point along the curve. Most indifference curves are usually convex because as you consume more of one good you will consume less of the other. This is known as the law of diminishing marginal rate of substitution.