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Title: What does the marginal rate of substitution measure? Post by: snowicefox17 on Oct 9, 2019 Question 1. The slope of the indifference curve is referred to as ▸ the marginal rate of consumption. ▸ the marginal rate of substitution. ▸ the marginal tradeoff rate. ▸ the price ratio. Question 2. What does the marginal rate of substitution measure? ▸ It measures the rate at which a consumer must give up one good to purchase another good. ▸ It measures the change in utility from consuming one additional unit of a good. ▸ It measures the rate at which a consumer is willing to trade off one product for another while keeping utility constant. ▸ It measures the rate at which a consumer will substitute one good for another when the price of one good changes. Title: What does the marginal rate of substitution measure? Post by: kwashington67 on Oct 9, 2019 Content hidden
Title: What does the marginal rate of substitution measure? Post by: snowicefox17 on Oct 9, 2019 Thank you, thank you, thank you!
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