What happens to the absolute value of the marginal rate of substitution as you move down a convex (bowed toward the origin) indifference curve?

Who is the seller in a primary market and who is the seller in a secondary market?

What will be an ideal response?

For China

A) there was a long period of success with the economic results of communism so it was hard to change policies. B) reform of its economic system was rapid, with a quick dismantling of most of the controls exercised by the state and party over the economic system, but not the political system. C) economic reforms were intended to create more wealth to distribute, not do undo the communist party. D) there are no longer state owned enterprises.