| If Marginal Rate of Substitution is increasing throughout, the Indifference Curve will be: (choose the correct alternative) |
| (a) Downward sloping convex |
| (b) Downward sloping concave |
| (c) Downward sloping straight line |
| (d) Upward sloping convex |
Answer:
If Marginal Rate of Substitution is increasing throughout, the Indifference Curve will be downward sloping concave. Hence, the correct answer is option (b).
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