The Marginal Rate of Substitution of Beef for Chicken Is

question 282

Multiple Choice

The marginal rate of substitution of beef for chicken is the

• A)number of units of chicken the consumer is prepared to give up to obtain one more unit of beef.
• B)number of units of beef the consumer is prepared to give up as income falls.
• C)number of units of beef the consumer must sacrifice to obtain one more unit of chicken.
• D)rate at which units of beef may be exchanged for units of chicken in the market.

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Definitions:

Human Relations

The study of the behavior of individuals and groups in organizational settings.