Indifference Curves That Are Convex to the Origin Imply Which

question 124

Multiple Choice

Indifference curves that are convex to the origin imply which of the following?

• A)increasing marginal utility
• B)diminishing marginal rate of substitution
• C)As we move down an indifference curve, the slope gets steeper.
• D)constant prices of goods

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Definitions:

Cinnamaldehyde

A yellow oily compound that gives cinnamon its flavor and odor, known chemically as a phenylpropanoid.

Claisen Product

The β-keto ester or β-diketone result obtained from a Claisen Condensation reaction.

Methyl Phenylacetate

An organic compound characterized by an ester functional group connecting a methyl group and a phenylacetate group.

Aldol Reaction

A type of chemical reaction in which an enolate ion reacts with a carbonyl compound to form a β-hydroxyaldehyde or β-hydroxyketone, followed often by dehydration to give a conjugated enone.