Correct option is D
The correct answer is (d) marginal rate of substitution
Explanation: The slope of an indifference curve is measured by marginal rate of substitution.
Information Booster: Here are some other things to know about indifference curves:
- Indifference curves are convex to the origin
- No two indifference curves intersect
- Consumers are more satisfied on indifference curves that are farther from the origin
- To maximize utility, a consumer will choose to consume on the highest possible IC they can afford
- The specific shape of indifference curves can be different for every person
- A set of indifference curves is called an indifference map