Question

In the context of Indifference Curve Analysis, MRS stands for ______.

पर्याय

• Marginal Rate of Substitution

• Marginal Rate of Satisfaction

• Marginal Return of Substitution

• Marginal Return of Satisfaction

Answer 1

In the context of Indifference Curve Analysis, MRS stands for Marginal Rate of Substitution.

Explanation:

MRS stands for Marginal Rate of Substitution. It describes the rate at which a consumer exchanges one good for another while maintaining satisfaction.