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Marginal Rate of Substitution

If IC is conv...

Question

If IC is convex to the origin, MRS should not be diminishing. State True or False.

A

True

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B

False

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Solution

The correct option is B False
If IC is convex to the origin, MRS should be diminishing. Because, the consumer is willing to sacrifice less and less amount of Good-Y for every additional unit of Good-X.

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