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Difference between MRT/MOC and MRS

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Difference between MRT/MOC and MRS
  • 2 answers

Tamanna Bansal 7 years, 1 month 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.

Lakshita Sharma 7 years, 1 month ago

They all are same... U can call MRS as MRT and as MOC...hope it helped...?
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