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Why should MRS decline ?

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Why should MRS decline ?

    • Posted by Drishti Singh 6 years, 7 months ago

    CBSE > Class 12 > Economics
    • 1 answers

    Hrithik Singh 6 years, 7 months ago

    diminishing MRS implies that for every additional unit of good 1, the consumer is willing to give up less and less amount of Good 2 .so that ∆good 2 /∆ good 1 tends to decline as we move along with IC curve from left to right this happens owing to the law of diminishing marginal utility it is because of diminishing MRS that the indifference curve is convex to the origin. ?

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