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Indifference curve are convex to the origin because of ______ -

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Question

Indifference curve are convex to the origin because of ______

Options

  • Increasing MRS

  • Diminishing MRS

  • Law of diminishing MU

  • Law of equi-marginal utility

MCQ
Fill in the Blanks

Solution

Indifference curve are convex to the origin because of Diminishing MRS.

Explanation:

In most cases, an Indifference Curve is convex to the origin. Because of the diminishing marginal rate of substitution, this is the case.

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Ordinal Approach (Utility Analysis)
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