Question: Given a conventional downward - sloping convex indifference curve, the negative of the slope A . measures the marginal rate of substitution between the two
Given a conventional downwardsloping convex indifference curve, the negative of the slope
A
measures the marginal rate of substitution between the two goods in question.
B
is calculated by dividing the quantity of the good on the vertical axis by the quantity of the good on the horizontal axis.
C
measures total utility.
D
is calculated by dividing the price of good on the vertical axis by price of the good on the horizontal axis
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