Question

Slope of indifference curve

Answer 1

Answer:

The slope of the indifference curve is called the marginal rate of substitution , which declines as the quantity of X increases relative to the quantity of Y. Of course, the amounts of commodities X and Y that the individual will be able to consume depends on the level of that person's income.

Answer 2

The slope of the indiffernce curve is called the marginal rate of substitution, which declines as the quantity of X increases relative to the quantity of Y.