jukazem

Senior Member
Feb 10, 2007
4,967
1: True, due to diminishing marginal returns.

2: True I think.

3: False they can have either upward or downward slopes depending on the good
I thought of no#1 to be false (think Pareto curve): Diminish marginal utility of X means more substitution (marginal utility of Y increases)- so more of Y given up to get little more of X, right?
 

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