Question

4. Which choices of the following are true? a. The marginal rate of transformation of x and y or mrt(x,y), illustrates how much y one mustgive up in order to get more x. b. The slope of the indifference curve is the marginal rate of substitution (mrs). c. Rational individuals prefer all points on higher indifference curves than points on lowerindifference curves. d. The indifference curves of two rational individuals with identical preference may intersectwith each other. e. Perfect complements have linear indifference curves. f. On one's indifference curve, all combinations of chocolates (x) and candies (y) generate thesame level of utility.

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