Indifference Curves That Are Convex to the Origin Imply

question 59

Multiple Choice

Indifference curves that are convex to the origin imply:

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

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Definitions:

Illocution

The intended significance behind an utterance, such as commanding, questioning, or declaring, which conveys the speaker's intention.

Verbal Output

The production and expression of words, either spoken or written, as a means of communication.

Words in Sequence

A linguistic arrangement where words are placed in a specific order to convey meaning or perform a linguistic function.

Stereotypic Inferences

Involve drawing broad, oversimplified conclusions about individuals based on their membership in certain groups, often ignoring personal differences.