The rate at which consumer is willing to substitute one good for another is represented by ________. Option 1: Marginal rate of transformation. Option 2: Slope of indifference curve. Option 3: Price Ratio. Option 4: optimum choice of the consumer.

The answer is 'Slope of indifference curve.'. View full solution:

CUET Economics - The rate at which consumer is willing to substitute one good for another is represented by ________. | PYQs + Solutions

CUET Economics 2025 30 May Shift 1

Micro

Easy

Marginal rate of transformation.

Slope of indifference curve.

Price Ratio.

optimum choice of the consumer.

✅ Correct Option: 2

Related questions:

28 May Shift 1

How would the decrease in the price of Good-X impact the budget line, when the price of Good-Y and Income remain unchanged?

The intercept points of both Good-X and Good-Y will shift outward.
The intercept point of Good-X will shift outward and the intercept point of Good-Y will remain unchanged.
The intercept point of Good-X will shift inward and the intercept point of Good-Y will remain unchanged.
The intercept points of both Good-X and Good-Y will shift inward.

CUET Economics 2023 Slot 6

Arrange the following of elasticities of demand in increasing order as per geometric method.

A. Mid-Point of the demand curve

B. Intercept on Y-axis

C. Between Mid-Point and intercept on X-axis

D. Between Mid-Point and intercept on Y-axis

E. Intercept on X-axis

Choose the correct answer from the options given below:

13 May Shift 1

The relation between the consumer's optimal choice of the quantity of a good and its price is called ?