Declining MRSXY implies that: (a) The total utility is decreasing along an indifference curve (b) The consumer’s preferences do not satisfy the more-is-better principle (c) The consumer is willing to give up more and more X for additional Y as the consumption of X increases along an indifference curve (d) The consumer is willing to give up less and less X for additional Y as the consumption of X increases along an indifference curve

Declining MRSXY implies that: (a) The total utility is decreasing along an indifference curve (b) The consumer’s preferences do not satisfy the more-is-better principle (c) The consumer is willing to give up more and more X for additional Y as the consumption of X increases along an indifference curve (d) The consumer is willing to give up less and less X for additional Y as the consumption of X increases along an indifference curve

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 1.3P

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