Give an example for marginal rate of substitute – InterviewSolution

1.	Give an example for marginal rate of substitute
Answer» Forexample, if the MRSxy= 2, the consumer will give up 2 units of Y to obtain 1 additional unit of X. As one moves down a (standardly convex) indifference curve, themarginal rate of substitutiondecreases (as measured by the absolute value of the slope of the indifference curve, which decreases).

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