Multiple Choice
The marginal rate of substitution measures
A) the willingness of a consumer to exchange a good with another consumer.
B) the willingness of a consumer to pay the form for a good.
C) the value in dollars of the last unit of good obtained by the consumer.
D) the rate at which a consumer is willing to exchange one good for another.
Correct Answer:
Verified
Correct Answer:
Verified
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