Practice mode Consumer Theory vs. Real Consumers

What is the slope at any point on an indifference curve called?

Correct answer C. The marginal rate of substitution

Explanation

The slope shows the rate at which a consumer is willing to give up one good for another while staying equally satisfied. Economists call this rate the marginal rate of substitution.

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What is the slope at any point on an indifference curve called?

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What is the slope at any point on an indifference curve called?

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