Why is the indifference curve convex to origin?
A. Due to continuous decline of marginal rate of substitution
B. Due to law of diminishing marginal utility
C. Due to monotonic preferences
D. Both a and b
Answer:A
Why is the indifference curve convex to origin?
A. Due to continuous decline of marginal rate of substitution B. Due to law of diminishing marginal utility C. Due to monotonic preferences D. Both a and b