Question

explain the behaviour of Mrs along the ic curve​

Answer 1

HERE IS YOUR ANSWER

Marginal rate of substitution (mrs) refers to the rate at which the commodities can be substituted with each other , so that total satisfaction of the consumer remains the same....

MRS diminishes as the consumer moves downword along the same Indifference curve. it shows that consumer is willing to sacrifice lesser unit of a good y, in order to gain one additional unit of good x. this happen due to operation of law of DMU....

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Answer 2

HERE IS YOUR ANSWER

Marginal rate of substitution (mrs) refers to the rate at which the commodities can be substituted with each other , so that total satisfaction of the consumer remains the same....