Question

____________________ is the ratio of number of units of a good sacrificed to increase one more unit of other good.

Answer 1

Answer:

Marginal rate of transformation (MRT)

Explanation:

Marginal rate of transformation (MRT)is the ratio of number of units of a good sacrificed to increase one more unit of other good.

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Answer 2

Marginal Rate of Substitution is the ratio of number of units of a good sacrificed to increase one more unit of other good.

Explanation:

In Microeconomics,specifically under Consumer Theory,Marginal Rate of Substitution(MRS) is the slope of indifference curve.Indifference curve is a graphical curve which illustrates different combination of two goods that a consumer that purchase to obtain a certain or specific level of utility of satisfaction.Now,MRS basically implies at what rate a consumer gives up the consumption of one particular good to increase the consumption of 1 more unit of another good which is reflected in the indifference curve.Hence,mathematically,it is the slope of the indifference curve.