The Marginal Rate of Substitution Is

question 20

Multiple Choice

The marginal rate of substitution is:

• A) the total amount a consumer is willing to trade to get another good.
• B) the rate at which the consumer is willing to trade one good to gain one more unit of another good.
• C) is reflected by the slope of the indifference curve.
• D) characterized by both b. and c.

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Definitions:

Matrix Structure

An organizational structure that creates dual lines of authority by combining functional and product-based departments.