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What happens to the marginal rate of substitution as you

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1.What happens to the marginal rate of substitution as you move along a convex indifference curve? A linear indifference curve?

2. Explain why an MRS between two goods must equal the ratio of the price of the goods for the consumer to achieve maximum satisfaction

3. Describe the indifference curves associated with two goods that are perfect substitutes. What if they are perfect complements?

Reference no: EM13321459

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