Question

Which of the following is an assumption of IC analysis- * 1. monotonic preference of the consumers 2. declining marginal rate of substitution 3.Cardinal numbers 4.all of these please answer asap ill mark as brainliest

Answer 1

Answer:

substitution (MRS) is the amount of a good that a consumer is willing to consume in relation to another good, as long as the new good is equally satisfying. It's used in indifference theory to analyze consumer...

Answer 2

Answer:

2 declining marginal rate of substituition

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