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Question: Suppose we measure the quantity of good X on the horizontal axis and the quantity of good Y on the vertical axis. If indifference curves are bowed inward, as we move from having an abundance of good X to having an abundance of good, Y the marginal rate of substitution of good Y for good X (the slope of the indifference curve)

a. rises.

b. falls.

c. stays the same.

d. could rise or fall depending on the relative prices of the two goods.

Microeconomics, Economics

  • Category:- Microeconomics
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