Figure 21-9
Graph (a)
Graph (b)
Graph (c) 
-Refer to Figure 21-9. Which of the graphs illustrates indifference curves for which the marginal rate of substitution varies?
Definitions:
Semi-annually
Occurring twice a year, a term often used in reference to the payment of interest or dividends.
Coupon
In finance, a coupon refers to the interest payment received by a bondholder from the bond’s issuer at predetermined intervals until the bond’s maturity.
Dividend Growth Rate
The annual percentage rate at which the dividends paid by a stock or company increase.
Annual Dividends
The total amount of dividends that a company pays to its shareholders on an annual basis, typically expressed per share.
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