Indifference Curves Tend to Be Bowed Inward Because of Diminishing

question 12

Multiple Choice

Indifference curves tend to be bowed inward because of diminishing

• A)marginal rates of substitution.
• B)demand for the good as prices rise.
• C)income.
• D)Both a and b are correct.

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Definitions:

Emotional Arousal

The condition of experiencing physiologically and psychologically activated states due to emotions.

Source of Emotions

The origin processes within the brain and body that give rise to feelings such as happiness, anger, sadness, and fear.

Thalamus

A crucial structure located in the center of the brain that acts as the main relay station for sensory information headed to the cerebral cortex.

Emotional Stimulus

Any object, event, or situation that evokes an emotional response.