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Question
______ measures the slope of indifference curve.
Options
Budget Line
Marginal Rate of Substitution
Marginal Rate of Transformation
None of these
MCQ
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Solution
Marginal Rate of Substitution measures the slope of indifference curve.
Explanation:
The marginal rate of substitution measures how much of one good a consumer gives up for another while remaining equally satisfied. It measures the slope of the indifference curve.
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