The negative slope of an indifference curve means that the consumer must give up quantity of one good as the quantity of another good increases in order for total utility to ____.

• The negative slope of an indifference curve means that the consumer must give up quantity of one good as the quantity of another good increases in order for total utility to remain the same

Explanation:

The negative slope of the indifference curve implies that more consumption of one good in place of another. According to the indifference curve, when the quantity of one good is reduced, the quantity of the other must increase. For the total utility or consumer happiness to remain the same, the trade-off must occur which is indicated by the downward sloping curve. It is also explained by the law of diminishing marginal rate of substitution. As indifference curve gets higher, the total utility of the consumer increases as well.