Marginal rate of substitution (y for x) is the amount of y, individual gives up, for one more additional unit of x. MRSyx is the ratio of marginal utilities of x and y
How would you derive MRS from MU
Marginal rate of substitution (y for x) is the amount of y, individual gives up, for one more additional unit of x. MRSyx is the ratio of marginal utilities of x and y
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