The Marginal Rate of Substitution Is the

question 26

Multiple Choice

The marginal rate of substitution is the

• A) rate at which the consumer can exchange one good for the other.
• B) change in the quantity of one good that just offsets a one-unit change in the consumption of another good such that the total satisfaction remains constant.
• C) change in the quantity of one good that changes the utility received by one unit.
• D) same thing as the marginal utility of a good.

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Definitions:

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