Differentiate b/w MRS and Market rate of exchange.

1.	Differentiate b/w MRS and Market rate of exchange.
Answer» I guess there is a difference b/w exchange rate and market rate of exchange.<br>* marginal rate of substitution (MRS) is the amount of a good that a consumer is willing to give up for another good, as long as the new good is equally satisfying. It\'s used in indifference theory★★★★★ An exchange rate is the price of a nation\'s currency in terms of another currency. ... Exchange rates are quoted in values against the US dollar.

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