Suppose the Marginal Rate of Substitution of for

question 17

Multiple Choice

Suppose the marginal rate of substitution of for is given by MRS_x,y = 5x/7y

• A) The indifference curves will be bowed away from the origin.
• B) The indifference curves will be bowed in towards the origin.
• C) The indifference curves will be straight lines.
• D) It is not possible to tell the shape of the indifference curves with only this information.

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Definitions:

Continuity

Refers to the unbroken and consistent existence or operation of something over a period of time.

Proximity

The physical or psychological closeness between people or objects, often influencing relationships and interactions.

Closure

A psychological term denoting the need for resolution or an end to a particular emotional or relational issue.

Depth Perception

The visual ability to perceive the world in three dimensions (3D) and the distance of an object.