Examlex
A decreasing marginal rate of substitution indicates that an indifference curve is:
Market Price
The price at which goods and services are currently being sold in the market, influenced by supply and demand.
Equilibrium Price
The price point in the market at which the amount of goods being offered is equal to the amount of goods being sought.
Quantity Supplied
The volume of a commodity or service that sellers are ready and capable of providing at a specific price within a given period.
Surplus
An excess of production or supply over demand, often resulting in lower prices.
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