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Upward sloping indifference curves for a consumer would indicate what? (a) The consumer's preferences are not rational (b) The consumer's marginal rate of substitution is
Upward sloping indifference curves for a consumer would indicate what?
(a) The consumer's preferences are not rational
(b) The consumer's marginal rate of substitution is constant
(c) The consumer would need one additional unit of x to compensate for being given one additional unit of y
(d) None of the above
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