If an Individual's Utility Function Is Quasi-Concave,his or Her MRS

question 5

Multiple Choice

If an individual's utility function is quasi-concave,his or her MRS will:

• A)diminish as x is substituted for y.
• B)increase as x is substituted for y.
• C)be undefined except in special cases.
• D)always depend only on the ratio of x to y.

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Definitions:

Suffix

A morpheme added at the end of a word to form a derivative, changing its meaning or creating a new word.

Leukoplakia

A white patch or plaque that develops on the tongue, the inside of the cheek, or on the floor of the mouth, often associated with smoking or other irritants.

Mucous Membrane

A protective lining found in various parts of the body such as nose, mouth, and lungs, producing mucus.

Xanthoderma

A yellow discoloration of the skin, often resulting from prolonged consumption of foods high in carotene or jaundice.