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:

Observational Learning

Learning that occurs through observing the behaviors of others and the outcomes of those behaviors, rather than through direct experience.

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