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Applications Scalar Triple Product

The figures d...

Question

The figures depicts indifference curves.
Figure $F 4$ here shows:

Increasing

M R S_{x y}

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Decreasing

M R S_{x y}

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Constant

M R S_{x y}

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None of the above

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Solution

The correct option is B Decreasing $M R S_{x y}$
Convex shape of IC in $F .4$ represents decreasing $M R S_{x y}$ .

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F .3

M R S_{X Y} = \frac{P X}{P Y}

M R S_{X Y} > \frac{P_{X}}{P_{Y}}

M R S_{X Y} = \frac{P_{X}}{P_{Y}}

P_{X}

P_{Y}

M R S_{X Y} > \frac{P_{X}}{P_{Y}}

M R S_{X Y} = \frac{P_{X}}{P_{Y}}

M R S_{X Y} < \frac{P_{X}}{P_{Y}}

X

Y

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