MRS The marginal rate of substitution

Question

Accepted Answer

is the rate at which a person gives up the good measured on the y-axis to get an additional unit of the good measured on the x-axis while remaining on the same indifference curve.

Answer

is the amount of good Y substituted for good X as a consumer moves along his budget line.

Answer

increases as a consumer consumes more of the good measured on the x-axis.

Answer

is greater than the magnitude of the slope of the budget line.

Answer

is equal to the slope of the budget line.

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MRS The marginal rate of substitution

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