Multiple Choice Questions on Indifference curve are convex to the origin because of ........ for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

Indifference curve are convex to the origin because of ........

Economics (CUET) Consumer Behaviour and Demand
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    Indifference curve are convex to the origin because of:

     

    Increasing MRS
     

    Incorrect Answer

    Diminishing MRS
     

    Correct Answer

    Law of diminishing MU
     

    Incorrect Answer

    Law of equi-marginal utility

    Incorrect Answer
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    Explanation:

    Option (2) is correct.
    Explanation: An Indifference Curve will ordinarily be convexto the origin. This is because of Diminishing Marginal Rate of Substitution.

     

    By: Parvesh Mehta
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