|MRSx,y| = ΔY / ΔX: In this formula, you measure the rates of change for both products and divide for the MRS. |MRSx,y| = MUy / MUx: The MU variable stands for the
Marginal Rate of Substitute Formula = Y/ X where, Y Change in Good Y X Change in Good X The MRS formula shows that when the number of substitutes grows in the subsequent phases and the number of current resources decreases, the MRS falls. MRS representation in terms of marginal utility Limitations See more
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