Which of the following statements is correct? The consumer's indifference curves are concave. An indifference curve is downward sloping because of the consumer's preference for diversity. O The...

Extracted text: Which of the following statements is correct? The consumer's indifference curves are concave. An indifference curve is downward sloping because of the consumer's preference for diversity. O The consumer's budget constraint is bowed in toward the origin. When the consumer optimizes, the marginal rate of substitution of leisure for consumption equals the real wage rate.