General Knowledge Economy Microeconomics

For the consumer to reach equilibrium under indifference curve analysis

1
MRSxy = Px/Py and MRSxy must be increasing.
2
MRSxy = Py/Px and MRSxy must be increasing.
3
MRSxy = Py/Px and MRSxy must be constant.
4
MRSxy = Px/Py and MRSxy must be diminishing.

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