Economy, asked by Saumyakant3274, 1 year ago

What is marginal rate of substitution in managerial economics

Answers

Answered by arrhu

0

The marginal rate of substitution is an economics term that refers to the point at which one good is substitutable for another. ... If the marginal rate of substitution of X for Y or Y for X is diminishing, the indifference' curve must be convex to the origin.

Answered by ItzPearlStealer

0

Answer:

It refers to ratio of sacrificing some units of one commodity to gain one additional unit of another commodity.

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