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QUESTION
Assume that a consumer's indifference curve is bowed inward and satisfies the other three properties of indifference curves.
Assume that a consumer's indifference curve is bowed inward and satisfies the other three properties of indifference curves. As the consumer moves from left to right along the horizontal axis, the consumer's marginal rate of substitution
a. increases.
b. remains constant.
c. decreases.
d. increases, then decreases.
