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Home Q & A Board Other Fields Homework Help Business Economics
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baileymeredith baileymeredith
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Posts: 477
Rep: 12 0
5 years ago
What is the marginal rate of substitution?

• the price ratio

• the rate at which the consumer must give up one good to purchase an additional unit of the other goods in the market

• the rate at which the consumer is willing to trade one good for another so that she increases her utility

• the rate at which the consumer is willing to trade one good for another without any loss in utility
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 38 times
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wrote...
#1
5 years ago
the rate at which the consumer is willing to trade one good for another without any loss in utility
wrote...
#2
5 years ago
I appreciate what you did here, answered it correctly Smiling Face with Open Mouth
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