How to find marginal rate of substitution

|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

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Marginal Rate of Substitution

The marginal rate of substitution is calculated using this formula: Where: X and Y represent two different goods d’y / d’x = derivative of y with respect to x MU = marginal utility
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MARGINAL UTILITY AND MRS (detailed notes)

Written by MasterClass. Last updated: Aug 31, 2022 • 2 min read. The marginal rate of substitution, or MRS, is an economic formula that economists use to determine consumer

Marginal Rate Of Substitution

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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Indifference curves and the marginal rate of substitution

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