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Question
Slope of an Indifference Curve is measured by ______.
Options
Marginal Rate of Substitution
Marginal Rate of Transformation
Marginal Opportunity Cost
None of these
MCQ
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Solution
Slope of an Indifference Curve is measured by Marginal Rate of Substitution.
Explanation:
MRS measures the rate at which a consumer substitutes one good for another at equal satisfaction. This rate represents the slope of the indifference curve.
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