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Introduction to Economics 1
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi The Theory of Consumer Choice soru cevapları
INTRODUCTION TO ECONOMICS I (İKTİSADA GİRİŞ I) - (İNGİLİZCE) Dersi The Theory of Consumer Choice soru detayı:
SORU:
What does MRS stand for and what does it mean? Explain briefly.
CEVAP:
The marginal rate of substitution (MRS) is defined as the number of units of good Y that must be given up if the consumer, after receiving an extra unit of good X, is to maintain a constant level of satisfaction or utility.