Marginal rate of substitution,
Definition of Marginal rate of substitution:
Measure of how much of a commodity a consumer will give up to get one or more units of another commodity, while maintaining the same level of satisfaction.
How to use Marginal rate of substitution in a sentence?
- In trying to understand examples of marginal rate of substitution , we asked kids, how many pieces of one candy would they have to give up, to receive a piece of a different candy.
- You may find yourself having to use a marginal rate of substitution to get what you need out of your company.
- I wanted to know the marginal rate of substitution and it took me all afternoon to figure out how to do that.
Meaning of Marginal rate of substitution & Marginal rate of substitution Definition