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To calculate the marginal rate of substitution, the change in good x is divided by the change in good y: MRS( x , y ) = the marginal rate of substitution between both goods
The following equation is used to calculate a marginal rate of substitution. MRS = MU x / MU y Where MRS is the marginal rate of
Tutorial explaining the indifference curves and marginal rate of substitution for microeconomics or managerial economics class.Like MyBookSucks on Facebookht
Improve your math performance
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Solve mathematic problems
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