The slope at any point on an indifference curve is known as ?
Correct answer: A. the marginal rate of substitution
- A. the marginal rate of substitution
- B. the marginal rate of trade-off.
- C. the trade-off rates
- D. the marginal rate of indifference
Explanation
The slope of an indifference curve measures how much of one good the consumer is willing to give up for another while maintaining the same utility. This is the marginal rate of substitution.
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