Question

The convex shape of the indifference curve is due to​

Answer 1

Answer:

Indifference curves are convex to the origin because as the consumer begins to increase his or her use of one good over another, the curve represents the marginal rate of substitution. ... The marginal rate of substitution goes down as the consumer gives up one good for another, so it is convex to the origin.

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Answer 2

Answer:

Indifference curves are convex to the origin because as the consumer begins to increase his or her use of one good over another, the curve represents the marginal rate of substitution. ... The marginal rate of substitution goes down as the consumer gives up one good for another, so it is convex to the origin.

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