Indifference curves in demand analysis are convex to origin, which implies that (A) consumer's preferences will change with substitution one commodity for the other. (B) consumer prefers to give up more of a commodity for every additional unit of the other commodity (C) consumer prefers to give up successively less of a commodity for every additional unit of the other commodity (D) consumers substitute equally one commodity against the other.

UoH 2012 Question 96: Consumer preferences and utility

Indifference curves in demand analysis are convex to origin, which implies that

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Consumer preferences and utility has come up 93 times in 7 exams since 2007.

This question is on Marginal rate of substitution and convexity, part of Consumer preferences and utility in Microeconomics.

The rate at which a consumer trades one good for another, and why it diminishes along a convex indifference curve.

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