Question

Match the correct pairs from the Column 1 and Column 2. Column 1:

Column 1	Column 2
(1) Indifference curve	(a) `(MU_x)/(P_x) = (MU_y)/(P_y)`
(2) Marginal utility curve	(b) Indifference curve convex to the origin
(3) Law of equi-marginal utility	(c) Negatively sloped
(4) Diminishing marginal rate of substitution	(d) Downward sloping

Answer 1

Column 1	Column 2
(1) Indifference curve	(c) Negatively sloped
(2) Marginal utility curve	(d) Downward sloping
(3) Law of equi-marginal utility	(a) `(MU_x)/(P_x) = (MU_y)/(P_y)`
(4) Diminishing marginal rate of substitution	(b) Indifference curve convex to the origin