Question

Continuity in consumption is prerequisite for:


a)Law of diminishing marginal utilities

 

b)Revealed preference

 

c)Indifference curve analysis

 

d)Marginal rate of substitution

​

Answer 1

Answer:

d)Marginal rate of substitution

Explanation:

Marginal Rate of Substitution (MRS)

By ADAM HAYES

Updated Nov 7, 2019

What Is the Marginal Rate of Substitution (MRS)?

In economics, the marginal rate of substitution (MRS) is the amount of a good that a consumer is willing to consume in relation to another good, as long as the new good is equally satisfying. It's used in indifference theory to analyze consumer behavior. The marginal rate of substitution is calculated between two goods placed on an indifference curve, displaying a frontier of utility for each combination of "good X" and "good Y."

I hope it will helps you.

Answer 2

Answer:

Law of diminishing marginal utilities

Explanation: