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Costa Costa
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6 years ago
The marginal rate of substitution is:
A) the rate at which the consumer is willing to trade off units of one commodity for units of another commodity so as to keep his or her level of satisfaction unchanged
B) the rate at which the consumer is willing to give up money to acquire those commodities that will result in maximum satisfaction
C) the rate at which a change in the consumer's income affects his or her total utility
D) the rate at which changes in the prices of the two goods affect the consumer's overall utility
Textbook 
Microeconomics

Microeconomics


Edition: 2nd
Author:
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EngelEngel
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6 years ago
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Costa Author
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Thanks
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