Difference between MRT/MOC and MRS
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Tamanna Bansal 7 years, 4 months ago
1) MRT/ MOC is the slope of PPC whereas MRS is slope of indifference curve .
2)MRS is the rate at which a consumer is willing to sacrifice one good to gain other good without affecting total utility but MRT is the ratio of number of unit sacrificed of one good to obtain more unit of another good.
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