Which of the following explains the declining slope of indifference curves?
(A) Diminishing marginal utility
(B) Diminishing Marginal Rate of substitutions between the commodities
(C) Diminishing Marginal Rate of technical substitution
(D) Ordinal measurement of utilities
(E) Diminishing Marginal utility of money
Choose the most appropriate answer from the options given below:
1
(A) and (D) only
2
(B) and (D) only
3
(C) and (D) only
4
(A) and (E) only