expand MRS ?
( related to consumer behaviour of theory )
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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.
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In economics, the marginal rate of substitution (MRS) is the rate at which a consumer can give up some amount of one good in exchange for another good while maintaining the same level of utility.
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