MRS between good x and y is determined by the price of these goods in – InterviewSolution

1.	MRS between good x and y is determined by the price of these goods in market . Is it correct?
Answer» YesExplanation:The MRS REFERS to the point at which ONE good is substitutable for another. If the marginal RATE of SUBSTITUTION of X for Y or Y for X is diminishing, the INDIFFERENCE' curve will be convex to the origin.

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