Question

MRS is de ined as:
(a) Amount of good Y given up in exchange for good X such that total utility is constant
(b) Amount of good X given up in exchange for good Y such that total utility is constant
(C) Amount of good Y given up in exchange for good X such that total utility rises
(d) Amount of good Y given up in exchange for good X​

Answer 1

Answer:

According to me option a) and option b) are same just we are switching the goods. This will not effect our MRS. But you should go with the second option that is b) amount of good X given up in exchange for good Y such that utility is constant.