Economics and Business Economics
|
|
|
|
|
Marginal Rate of Substitution Author: Paulo Nunes (Economist, Professor and Business Consultant) Contributions: without contributions ... if you are an expert in this field help us to enrich our site ... contact us knoow.net@gmail.com Date Created: 25/05/2011 Summary: Marginal Rate of Substitution (or Substitution Ratio) indicates the rate at which a consumer is willing to... see full article Key words: Economics, Comment or read other comments on this article |
Marginal Rate of Substitution |
| | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | |
|
Marginal Rate of Substitution Concept Marginal Rate of Substitution (or Substitution Ratio) indicates the rate at which a consumer is willing to trade a certain good for another in order to keep the same utility level. In an indifference curbs map, and for each combination of goods, the Marginal Rate of Substitution is given by the indifference curb inclination which passes in the point that represents that combination of goods.
Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt.
|
|
