Match the following.

List-I (Values of MRS_xy)
List-II

a. MRS_xy is diminishing 1. L shaped indifference curve

b. MRS_xy is constant 2. Indifference curve is concave to the origin

c. MRS_xy is increasing 3. Indifference curve is straight line sloping downwards to the right

d. MRS_xy is zero 4. Indifference curve must be convex to the origin

A) a-1, b-2, c-3, d-4 B) a-1, b-3, c-2, d-4 C) a-4, b-3, c-2, d-1 D) a-2, b-4, c-3, d-1

Answer & Solution

Correct Answer: Option C

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List-I (Values of MRS_xy)	List-II
a. MRS_xy is diminishing	1. L shaped indifference curve
b. MRS_xy is constant	2. Indifference curve is concave to the origin
c. MRS_xy is increasing	3. Indifference curve is straight line sloping downwards to the right
d. MRS_xy is zero	4. Indifference curve must be convex to the origin