Assume that a consumer's indifference curve is bowed inward and negatively sloped. As the consumer moves from left to right along the horizontal axis, the consumer's marginal rate of substitution

A) increases.
B) decreases.
C) remains constant.
D) increases, then decreases.

Marginal Rate

The rate at which one quantity changes relative to a change in another quantity.

Substitution

The economic principle where consumers replace pricier items with less expensive alternatives when prices rise or their purchasing power decreases.

Indifference Curve

This is a graph representing different bundles of goods between which a consumer is indifferent, meaning that each combination offers the same level of utility to the consumer.