The slope of indifference curve is measured by

marginal rate of transformation

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marginal rate of substitution

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marginal rate of technical substitution

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none of these

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Solution

The correct option is B marginal rate of substitution
The slope of IC curve is measured by marginal rate of substitution, and is expressed as ‘Change in Y/Change in X’. The consumer, depending on his tastes and preferences, determines this.

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Similar questions

Explain the concept of 'Marginal Rate of Substitution' with the help of a numerical example. Describe its behaviour along an indifference curve.

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