The diminishing marginal rate of substitution can be seen when indifference curves become flattered as we move down and to the right.
An indifference curve is a graphical representation of distinct pairings of two goods or commodities that, when combined, leave the consumer equally well-off or satisfied—hence, indifferent—to owning any pairing along the curve. There are numerous presumptions that govern how indifference curves behave, such as the fact that no two indifference curves ever intersect. When obtaining bundles of products on indifference curves that are farther from the origin, consumers are always presumptively more satisfied.
An individual's consumption level often shifts as wealth rises because they can buy more goods, which causes them to end up on an indifference curve that is farther from the origin—and, thus, better off.
Learn more about indifference curve here:
https://brainly.com/question/24261444
#SPJ4
