- 04/25/2019 at 2:58 pm #618648EduGorillaKeymasterSelect Question Language :
Which of the following statements is incorrect?
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- An indifference curve slopes downward to the right.
- The assumption of diminishing MRS implies that the slope of the indifference curve must be decreasing from left to right.
- The elasticity of substitution between two goods to a consumer is zero.
- The total effect of a change in the price of a commodity on its quantity demanded is called the price effect.
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