The Marginal Rate of Substitution Is Defined as

question 34

Multiple Choice

The marginal rate of substitution is defined as

• A) the amount of good Y substituted for good X by a consumer.
• B) the amount of good Y that a consumer is willing to substitute for good X and stay at a given level of satisfaction.
• C) the feasible rate of substitution given prices.
• D) the slope of the utility function.
• E) the convexity of the indifference curve.

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