Multiple Choice
The marginal rate of substitution is
A) the change in the quantity of one good that just offsets a one unit change in the consumption of another such that the total satisfaction remains constant.
B) the additional satisfaction from consuming an additional unit of a good or service.
C) positively related to the level of income.
D) the set of goods and services that are available to the consumer given his income.
Correct Answer:
Verified
Correct Answer:
Verified
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