1.why is the indifference curve convex to the origin?

A. Due to continuous decline of marginal rate of substition

B. Due to law of diminishing marginal utility.

C. Due to moronic preferences.

D. Both and B

2.The substitution effect for a commodity

A. Depends upon the nature of the commodity.

B. Depends upon the price effect.

C. Sometimes negative and sometimes positive.

D. Always positive.

3.which of the following is true concerning the income effect of a decrease in price?

A. It will always lead to an increase in consumption.

B. It will lead to an increase in consumption only for a normal good.

C. It will lead to an increase in consumption only for an inferior good.

D. It will always lead to an increase in consumption.