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Define marginal rate of substitution

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Define marginal rate of substitution

    • Posted by Suvankar Roy 6 years, 10 months ago

    CBSE > Class 12 > Economics
    • 2 answers

    Abhishek Thakur 6 years, 10 months ago

    It is a rate at which Consumer is willing to sacrifice (substitute) one good (Y) for an additional unit of another good (X).

    0Thank You

    Navdeep Khalsa 6 years, 10 months ago

    Refers to that the one good is sacrifice to produce an additional unit

    0Thank You

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