Final answer:
The statement is false; along a convex indifference curve, the marginal utility of a good decreases as the quantity increases due to diminishing marginal utility, not rises.
Step-by-step explanation:
The statement that along a convex indifference curve, the marginal value of a good rises as the quantity of the good rises is False. Indifference curves, which are used to represent a consumer's preferences when faced with different combinations of goods, have two key properties: they are downward sloping from left to right and convex with respect to the origin. This convexity signifies that as a consumer increases consumption of one good, the additional satisfaction or marginal utility derived from consuming an extra unit of that good tends to decrease, which is known as the law of diminishing marginal utility.
Hence, along an indifference curve, as the quantity of a good increases, the marginal utility of that good actually decreases, not rises. The slope of the indifference curve at any point reflects the marginal rate of substitution (MRS), which indicates the rate at which the consumer is willing to give up one good in exchange for an additional unit of another good while maintaining the same level of overall utility.