A Marginal Rate of Substitution Formula Tells Us

Multiple Choice

A marginal rate of substitution formula tells us:

A) the rate at which the consumer is willing to exchange one good for another, given the level of utility.
B) the rate at which the consumer is willing to exchange one good for another, given the amounts consumed.
C) the rate at which the consumer is willing to exchange one good for another, given the consumer's income.
D) the rate at which the consumer is willing to exchange one good for another, given the prices of the goods.