Question: Without using the terms indifferent or indifference, define the term indifference curve when considering the consumption leisure trade off. Regarding the consumption leisure trade off,

Without using the terms indifferent or indifference, define the term indifference curve when considering the consumption leisure trade off. Regarding the consumption leisure trade off, define the term budget line (budget constraint).

What is the marginal rate of substitution? What does the MRS equal when this worker maximizes his or her utility?

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